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Singapore EV Operator Charge+ Raises $8M in their Maiden Funding Round

Asia Manufacturing Review Team | Tuesday, 10 September 2024

 Asia Manufacturing Review Team

Electric vehicle charging operator Charge+ has successfully raised $10.39 million (US$8 million) in a Series A funding round led by TRIVE Venture Capital, with participation from TNB Aura, which led a recent Series A2 round. The funds will be used to accelerate Charge+’s expansion of EV charging infrastructure throughout Southeast Asia.

In Singapore, Charge+ is fulfilling a contract awarded by the Land Transport Authority (LTA) to install approximately 4,000 EV charging points in Housing & Development Board public carparks. The company is also broadening its reach across Southeast Asia by forming partnerships in Indonesia, Thailand, Vietnam, and Cambodia. Roaming agreements with Malaysia's Tenaga Nasional Berhad, Thailand's Electricity Generating Authority, and Indonesia's PT PLN will allow Charge+ app users to access more regional charging stations.

Since its founding in 2018, Charge+ has aimed to boost electric mobility adoption across Southeast Asia. With the latest funding, the company plans to install 30,000 EV chargers globally by 2030, marking a significant milestone in its growth. Chargeplus is a top provider of integrated EV charging solutions for both Singapore and Southeast Asia. Their goal is to drive the expansion of electric transportation throughout the area.