Charge Zone has raised $19 million from British International Investment, while Niqo Robotics has secured $9 million in a new funding round.
BII invests in Charge Zone
India’s electric vehicle (EV) charging network Charge Zone has raised $19 million from British International Investment (BII), the UK’s development finance institution and impact investor.
With the new funding, Charge Zone plans to expedite the expansion of its high-speed charging network for electric cars, buses, and trucks across key cities and highways in India.
This enables the company to roll out more than 1,500 super-charging stations over the next 18 months and reach a portfolio of over 10,000 charging stations by 2027, the firm said in a statement.
To fund the expansion, the firm has successfully raised a total of $54 million from investors.
“Our support…will address the challenge of an underdeveloped EV charging infrastructure, facilitate a more sustainable transportation system and make EVs a viable and accessible option for many across the country,” Srini Nagarajan, Managing Director and Head of Asia at BII, said.
Brida Innovation Ventures backs Niqo Robotics
Agritech robotics firm Niqo Robotics (formerly TartanSense) has raised $9 million in a new funding round led by Brida Innovation Ventures, Entrackr reported on Wednesday.
The fresh funding comes after a hiatus of three years for the Bengaluru-based company.
Bidra Innovation Ventures pumped in Rs 41.5 crore, while exiting investor Omnivore Partners also subscribed to the round with Rs 33.2 crore, the report said.
Following the fundraise, Omnivore Partners has become the largest external stakeholder with 25.7% followed by Brida Innovation and Blume Ventures which commanded 18% and 10.7%, respectively.