The Charge+ founding team
Singapore-based electric vehicle (EV) charging operator Charge+ has secured an undisclosed sum in a Series A financing round led by TRIVE Venture Capital.
The battery startup will use the funds to accelerate the expansion of its charging infrastructure locally and regionally.
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The funds raised will support two key priorities. Firstly, Charge+ will fulfil an ongoing tender contract awarded by the Singapore Land Transport Authority (LTA) to provide approximately 4,000 EV charging points in HDB public housing car parks.
Secondly, it will implement a 5,000km EV charging highway across five Southeast Asian countries.
Charge+ is an integrated EV charging solution provider serving Singapore and Southeast Asia. Its solutions include a proprietary ultra-slim charger, smart charging software, and innovative business models.
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The firm has installed over 1,000 EV charging points in public housing, condominiums, shopping malls, commercial buildings and industrial facilities. Its slim design and dual-connector configuration allow for increased utilisation. It aims to achieve 30,000 points globally by 2030.
It also operates in Malaysia, Thailand, Vietnam, Indonesia and Cambodia.
The Singapore government has announced a target of 60,000 EV charging points by 2030. Additionally, research from Power Technology Research indicates the Southeast Asian region is expected to install about 202,000 EV charging points by 2026.
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In addition to building its own infrastructure, the firm will partner with other regional EV charging operators to leverage its proprietary mobile application and expand the network. Such roaming arrangements had been signed with Malaysia’s Tenaga Nasional Berhad (TNB), Thailand’s Electricity Generating Authority of Thailand (EGAT) and Indonesia’s PT PLN so that Charge+ app users can conveniently access a wider pool of EV chargers in the respective countries.
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Image Credit: Charge+
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