Charge Zone, a firm with offices in Vadodara, raised $54 million as part of a Series A1 financing. According to the firm, BlueOrchard Finance, a member of the Schroders Group, coordinated the purchase with the current and new institutional investors. The business is a major player in the industry developing infrastructure for electric vehicle charging.

$8 million of the overall cash comes from a loan investment in an infrastructure plan that BlueOrchard is in charge of. In addition to new expansion goals set by Charge Zone, the financing negotiated by BlueOrchard will support the immediate roll-out of 286 charging stations supporting 1,130 e-buses, e-trucks, and over 1,250 e-car fleets.

To enable e-mobility across the fleet and personal EV market, including automobiles, buses, and trucks, we intend to create 3,000 high-speed DC charging stations by 2025 and grow our network.

Although we anticipate significant growth for the 4W (four wheel) e-mobility category over the next 4 or 5 years, the present Series A1 fund-raiser is a component of the projected capital investment of $300 million, according to Kartikey Hariyani, founder & CEO of Charge Zone.