Monday, 7 December 2020

CHARGE+ZONE; EV charging start-up raises INR 3.2 Cr from Mumbai Angels Network


CHARGE+ZONE; EV charging start-up raises INR 3.2 Cr from Mumbai Angels Network

The Company CHARGE+ZONE  has established electric vehicle charging technology based on IOT and using cloud services to provide anywhere-anytime charging solution by making it smart, open platform configurable & flexible. It uses technology which is powered by IOT, through over-the-air flow of data and use of cloud base solutions to give a smooth customer experience. The company aims to build software solutions which will have Unmanned charging stations providing quality charging services, with remote control and monitoring, thus making them 24x7 available to EV drivers.

The company has proved its effectiveness by establishing over 108 charging stations across India, in a span of less than 1 year for billing clients like Ashok Leyland, Bajaj, Glyd (Mahindra Initiative), Blu Smart Mobility, Shuttl, amongst others.

Kartikey Hariyani, Founder & CEO, Charge+Zone said, “The investment by Mumbai Angels, as well as other family offices  represents the belief of investors in the promise of EMobility in India. 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 1 Mn unmanned charging points in the next ten years in India.”
Sanit Patel, Lead Investor at Charge+Zone said, "The team has been successful in forging strategic partnerships with the likes of Microsoft, iCreate, & EDF France to create its strong unique position in the industry while making sure to keep this an asset light business model. The proprietary in-house cloud based technology that can facilitate seamless connectivity between users, charging hubs and power grids has been instrumental in giving the company an edge over its competition by creating extremely strong unit economics, adding an extra revenue stream to cross sell this SaaS technology to other players in the market and a possibility to gather data for analytical".
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, "As Electric Vehicle as a sector gains wider adoption over the next decade. Our Investors see a lot of long term potential throughout the entire EV space and the battery charging ecosystem plays a vital role . We welcome Charge+Zone in our diversified portfolio."

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