EV charging infra startup Charge Zone raises $19 million from British International Investment

CHARGE ZONE, a leader in India's electric vehicle (EV) charging infrastructure, has raised $19 million from British International Investment (BII), the UK's development finance institution. 

The funding will catalyze CHARGE ZONE's plans to expand its high-speed charging network across India's major cities and highways.

Expansion plans

With the new capital injection, CHARGE ZONE is poised to deploy over 1,500 super-charging stations within the next 18 months.

The startup aims to enhance its portfolio to more than 10,000 charging stations by 2027 and ultimately establish a vast network of one million charging points by 2030.

The expansion will primarily target key urban centres, including Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bangalore, and Chennai, focusing on facilitating the transition to electric mobility for commercial fleets in these areas.

Leadership comments

Kartikey Hariyani, Founder and CEO of CHARGE ZONE, shared his vision for the partnership: "This strategic investment not only bolsters our capacity for network expansion but also aligns with our mission to support the rapid adoption of electric vehicles in India. We are committed to enhancing the EV infrastructure that will cater to the growing demand for cleaner transportation solutions."

Srini Nagarajan, Managing Director and Head of Asia at BII commented on the investment's impact: "Our commitment to CHARGE ZONE underscores our dedication to supporting sustainable projects that are pivotal for India's clean energy transition. By facilitating the development of a robust EV charging infrastructure, we are helping to make electric vehicles a practical choice for more consumers across India."

Long-term impact

The investment is expected to significantly accelerate CHARGE ZONE's growth trajectory and reinforce its leadership in India's evolving EV landscape.

By expanding the availability of reliable and accessible charging options, CHARGE ZONE aims to drive the adoption of electric vehicles, support environmental sustainability, and foster technological innovation in the mobility sector.