Venture Catalysts, India’s first and largest integrated incubator and accelerator, has recently led a $3 million investment in CHARGE+ZONE an innovative EV Charging Network company. Several prominent names including Mumbai Angels, Keiretsu Forum, and Ramakrishnan Family Office also served as lead investors in the pre-Series A funding round.
Founded in 2018, CHARGE+ZONE aims to expand the Indian electro-mobility market by enhancing the availability and accessibility of a network of charging points for electric vehicles (EVs). Its Internet of Things (IOT)-powered technology uses over-the-airflow of data and cloud solutions to create remotely operational charging points for EV drivers with 24×7 availability. The start-up envisions paving a way for EV Charging usage on the back of a dedicated leadership team made up of experienced renewable energy and technology professionals. These include Mr. Kartikey Hariyani (CEO and Founder), Mr. Pavan Bakeri (Co-founder and Director), Mr. Ravindra Mohan (Director-EVMarket), Mr. Rupesh Shah (EVSE-IT Architect)and Mr. Rajesh Bhat (Advisor).
Speaking on the investment, Mr. Kartikey Hariyani, Founder & CEO, CHARGE+ZONE said, “At CHARGE+ZONE, we have been passionately building technology and charging points for the EV ecosystem in India. With over 120+ Fast DC charging points (CCS2/GBT) across seven (07) cities in India, CHARGE+ZONE caters to more than 500+ EV vehicles on daily basis. With vertically integrated platform of CPO (Charge Point Operations) and Smartphone App, we cater to various clientele including Ashok Leyland, BluSmart, EEE-Taxi, Shuttl, SmartE, Bajaj Auto among others. An easily accessible and readily available network of charging points is the key to unlocking the success of e-mobility in the country. The investment by Venture Catalysts and Mumbai Angels, as well as other family offices, represents the biggest vote of confidence at this growth-stage of our journey. We shall leverage the capital infusion to scale our operations towards early 2021 deployment plans and to keep us motivated as we work towards building ONE (01) million unmanned charging points in the next ten years in India.”
Dr. Apoorva Ranjan Sharma, Co-founder & President – Venture Catalysts added, “CHARGE+ZONE is employing cutting edge technology to solve the most pressing issue in our transition towards electric vehicles-availability of charging points. With an extensive target market in each B2B (housing complex and corporate houses), B2B2C (two-, three-, and four-wheeler vehicles, as well as cab aggregators), and B2C (public charging stations) sectors, CHARGE+ZONE’s potential and opportunity for growth is massive. The startup’s innovative IP as well as the founding team’s dedication makes us confident in our investment. We firmly believe that with this growth-stage investment we are contributing to further our country’s advance towards a sustainable and pollution-free future.”
CHARGE+ZONE’s mobile application provides EV drivers a one-stop solution to issues like availability of charging points, pre-booking of charging slots, payment through QR code, downloading invoices, knowledge of the charging connector, and easy navigation to the charging point. Apart from these, a Battery Swapping Station Management System (BSSMS) login access is made available for clients who find the need to keep track of their battery and its Swapping Stations.