Interest charge

Public charging point player for electric vehicles CHARGE+ZONE plans to raise $100 million

Building on a successful electrification of 1,000 km on several national highways with its unmanned electric vehicle (EV) charging stations, Vadodara-based CHARGE+ZONE is now seeking to raise $100 million for network expansion .

After setting up 20 such electric vehicle charging points, 15 of which are company owned and operated (COCO), over 1,000 km on national highways like Ahmedabad-Rajkot, Mumbai-Nashik, Mumbai-Pune and Delhi-Jaipur, CHARGE+ZONE is now looking to cover more than 10,000 km in the country.

Deployed at convenient and strategic locations along the highway, CHARGE+ZONE’s unmanned charging stations are fast DC charging points with CCS2 as the charging protocol, intended for four-wheel electric vehicles. These stations can provide up to 80% charge in 45 to 60 minutes and a full charge in 90 to 120 minutes, depending on the size of the electric vehicle battery.

According to CHARGE+ZONE Founder and CEO, Kartikey Hariyani, in addition to its broader goal of electrifying 10,000 km of state and national highways over the next 3-5 years, the company also plans to have a strong network one million charging stations for electric vehicles by 2030. .

“Through our national highway electrification program, we have successfully implemented complete electric vehicle charging solutions in several cities and states that are accessible, affordable and easy to use. We have already spent $1 million Americans in fast chargers and we look forward to engaging with original equipment manufacturers (OEMs) even as we roll out more charging stations and more points at each station. expansion, we are looking for a $75-100 million ‘Series A’ round,” Hariyani said. Trade standard.

Because the charging stations are IoT-enabled, they are self-contained and connected to the company’s Charge Cloud operating system (OS), handling not only payments and charging, but also data relating to usage and duration, among others.

Since its creation, CHARGE+ZONE has created an active B2B and B2C network for electric vehicle charging stations for fleets and retail customers by setting up more than 1,250 charging points out of 650 electric vehicle charging stations serving around 4,000 electric vehicles daily. The company also operates on a DOCO (Dealer-operated Company Owned) model for charging stations.

Going forward, the company is also working on a separate vertical for battery swapping, even pending Niti Aayog’s policy.

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