Charge Zone, an Indian EV charging company, receives USD 19 million from British International Investment to expand its network and reach 10,000 charging stations by 2027.
New Delhi, Apr 30 (PTI) Gujarat-based Charge Zone on Tuesday said it has secured a financial assistance of USD 19 million (about Rs 160 crore) from British International Investment.
It will utilise the proceeds to roll out more than 1,500 super-charging stations over the next 18 months to reach a portfolio of over 10,000 charging stations by 2027, the company said in a statement.
"Charge Zone has secured a USD 19 million commitment from British International Investment (BII), the UK's development finance institution (DFI) and impact investor," the statement said.
Charge Zone operates fast-charging stations at more than 400 locations in India and the UAE. The company plans to create a network of 10 lakh charging points by 2030. To fund the expansion, it has successfully raised a total of USD 54 million from investors.
British International Investment is the UK's development finance institution and impact investor.
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