PE Fund Investments
EV charging company ChargeZone raises $54-M
Vadodara-based TecSo ChargeZone Ltd.- which operates EV charging services under the brand ChargeZone - has raised USD 54 million in its Series A1 round - which is a combination of debt and equity - led by impact investor BlueOrchard. Of this, USD 8 million was invested as debt through an infrastructure fund managed by BlueOrchard. Founded by Kartikey Hariyani, ChargeZone works with various OEMs, eMobility providers, and local partnerships, including Hyundai, Mahindra & Mahindra, AshokLeyland, VolvoEicher, Tata Motors, Marriott, Hyatt, and Fortune. As of March 2023, ChargeZone claims to have over 3,000 charging points across 1,500 EV charging stations in operation or construction in 37 cities, and has covered more than 10,000 kms of highways.
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