Charge+ raises $10.39m to boost EV charging infrastructure in SEA

The expansion will include Indonesia, Thailand, Vietnam, and Cambodia.

Electric vehicle charging operator Charge+ has raised $10.39m (US$8m) through a Series A funding round led by TRIVE Venture Capital, with TNB Aura that led the recent Series A2 round.

According to the company, the funds raised will support ongoing efforts to accelerate the expansion of its electric vehicle (EV) charging infrastructure throughout Southeast Asia. 

In Singapore, the company will fulfil an ongoing tender contract awarded by the Singapore Land Transport Authority (LTA) to provide approximately 4,000 EV charging points in the carparks of Housing & Development Board public housing.

Charge+ is also expanding its EV charging network across Southeast Asia, partnering with players in Indonesia, Thailand, Vietnam, and Cambodia. Roaming agreements were signed with Malaysia's Tenaga Nasional Berhad, Thailand's Electricity Generating Authority of Thailand, and Indonesia's PT PLN to allow Charge+ app users to access more charging stations.

"Since founding Charge+ in 2018, our vision has been to catalyze electric mobility adoption across Southeast Asia. The successful completion of Series A financing represents another exciting milestone in accelerating our growth across this region. We are therefore pleased to add TNB Aura as our new investor, after TRIVE as the lead investor in Series A," said Ong Tze Boon, chairman of Charge+.

Charge+ plans to install 30,000 EV chargers globally by 2030. 

$1 = US$0.77