Heaptalk, Jakarta — Singapore’s electric vehicle (EV) charging startup, Charge+, has completed a US$8 million Series A funding round led by TRIVE Venture Capital. TNB Aura also led the startup’s Series A2 investment.
The funds raised will support Charge+’s expansion of its EV charging infrastructure throughout Southeast Asia. As an early market, this startup will fulfill an ongoing tender contract awarded by the Singapore Land Transport Authority (LTA) to provide approximately 4,000 EV charging points in the carparks of HBD public housing.
Meanwhile, in Indonesia, this startup is building the country’s largest EV charging hub in Batang district in central Java to serve the traffic on the trans-Java highway. As for Thailand, Charge+ is the exclusive charging partner of the largest electric taxi operator, Ch.Pattana. In Vietnam, Charge+ is partnering with Porsche to build an ultra-fast charging network linking Hanoi in the north with Ho Chi Minh City in the south. In Cambodia, the company secured the rights to provide the charging infrastructure for the three most significant ports in the country.
“Completing the Series A round represents another exciting milestone in expediting our regional growth. We are pleased to welcome TNB Aura as our new investor, after TRIVE as the lead investor in Series A,” Chairman of Charge, Ong Tze Boo, said.
By 2030, Charge+ aims to deploy 30,000 EV charging points globally and advance electric mobility adoption in the region. Charge+ has installed charging points in public housing, condominiums, shopping malls, commercial buildings, and industrial facilities. It utilizes a proprietary charger design that is the world’s slimmest EV charger and features a dual-connector configuration to allow for increased utilization.
“We are pleased to partner with this company. Ong Tze Boon and Goh Chee Kiong’s leadership drives innovation and sustainable energy adoption, positioning Charge+ as the leader in the green mobility revolution,” Co-Founder and Managing Partner of TNB Aura, Vicknesh Pillay, said.
In addition to building its infrastructure, the company will partner with other regional EV charging operators to expand the network. This strategic arrangement had been signed with Malaysia’s Tenaga Nasional Berhad (TNB) and ChargeSini, Thailand’s Electricity Generating Authority of Thailand (EGAT), and Indonesia’s PT PLN, enabling the company to access a wider pool of EV chargers in the respective countries.
