New Delhi: 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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