Total amount raised
$87.1 Million
Latest funding date
04/01/2024
Location
ChargeZone has successfully raised funds over 8 rounds, with the latest being a Venture - Series Unknown round. The company is backed by 15 investors, including notable names like GI Ventures and British International Investment.
Keep reading to explore the intricacies of ChargeZone's fundraising journey and the investors backing this innovative platform.
What Is ChargeZone?
ChargeZone is a private company based in Vadodara, Gujarat, India, specializing in renewable energy solutions, product development, and software engineering. The company operates within the electric vehicle, energy, renewable energy, and software industries.
Founded in an unspecified year, ChargeZone has grown to employ between 101-250 people. The company has successfully raised funds through multiple rounds, attracting a total of 15 investors.
How Much Funding Has ChargeZone Raised?
- Round Name: Seed
- Amount Raised: USD 1,000,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Mumbai Angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's early-stage operations and market reach.
- Round Name: Seed
- Amount Raised: USD 3,000,000
- Date: November 2020
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the company's technology and expand its market presence.
- Round Name: Series Unknown
- Amount Raised: INR 750,000,000
- Date: December 2021
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up operations and enhance infrastructure.
- Round Name: Series A
- Amount Raised: USD 46,000,000
- Date: March 2023
- Lead Investors: BlueOrchard Finance S.A.
- Valuation at Round: USD 50,100,000
- Motivation Behind the Round: To expand the company's cloud tech-enabled charging infrastructure across India.
- Round Name: Debt Financing
- Amount Raised: USD 8,000,000
- Date: March 2023
- Lead Investors: BlueOrchard Finance S.A.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's financial stability and growth plans.
- Round Name: Series Unknown
- Amount Raised: Not publicly disclosed
- Date: December 2023
- Lead Investors: Macquarie Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow and support the expansion of ChargeZone's cloud tech-enabled charging infrastructure in India.
- Round Name: Series Unknown
- Amount Raised: INR 1,600,000,000
- Date: April 2024
- Lead Investors: British International Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance the company's renewable energy solutions.
Total Amount Raised: USD 58,000,000
Current Valuation: USD 50,100,000
Key Investors
- British International Investment
- Details: British International Investment is a development finance institution owned by the UK government. It aims to support the growth of businesses and create jobs in developing countries.
- Investment Focus Areas: Infrastructure, financial services, renewable energy.
- Notable Investments: Greenlight Planet, M-KOPA, d.light.
- Macquarie Capital
- Details: Macquarie Capital is a global financial services group providing advisory, capital raising, and principal investment services. It is part of the Macquarie Group, known for its expertise in infrastructure and energy projects.
- Investment Focus Areas: Infrastructure, energy, sustainable development projects.
- Notable Investments: Various renewable energy projects, sustainable infrastructure developments.
- BlueOrchard Finance S.A.
- Details: BlueOrchard Finance S.A. is an impact investment manager dedicated to fostering inclusive and climate-smart growth while providing attractive returns for investors. It was founded in 2001 and is headquartered in Switzerland.
- Investment Focus Areas: Inclusive finance, climate-smart investments, impact investing.
- Notable Investments: Microfinance institutions, small and medium enterprises (SMEs), climate-smart projects.
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that offers funding, mentorship, and network support to startups. It is based in India and focuses on early-stage investments.
- Investment Focus Areas: Early-stage startups, technology, healthcare, consumer products.
- Notable Investments: Beardo, PeeSafe, Supr Daily.
- Z Nation Lab
- Details: Z Nation Lab is an early-stage accelerator that provides startups with seed funding, mentorship, and access to a global network of investors and industry experts. It is based in the United States.
- Investment Focus Areas: Technology startups, early-stage development.
- Notable Investments: Fynd, BabyChakra, Eduvanz.
What's Next for ChargeZone?
ChargeZone is poised to capitalize on the burgeoning demand for electric vehicle infrastructure in India. With over 3,500 charging points across 1,500 stations in 37 cities, the company is well-positioned to expand its cloud tech-enabled charging network. This growth is bolstered by strategic partnerships with major automotive and hospitality brands, enhancing its market presence.
Future fundraising opportunities appear promising, given the recent investments and the company's ambitious plans to leverage renewable energy sources like solar and wind. However, scaling infrastructure to meet growing demand and navigating regulatory changes remain significant challenges. ChargeZone's ability to secure reliable renewable energy will be crucial for its sustainability goals.
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