Charge+ has secured $8 million in Series A round led by TRIVE Venture Capital, while BGA Web3 Key Fund has raised $5 million.
Singapore’s Charge+ secures $8m led by TRIVE
Charge+, a Singapore-based electric vehicle (EV) charging operator, has raised $8 million in a Series A round. The investment was led by TRIVE Venture Capital, with participation from TNB Aura, which previously led the Series A2 round.
According to a statement, the fresh capital will fuel the company’s ambitious plans to accelerate the expansion of its EV charging infrastructure across Southeast Asia.
In its home base, Charge+ is set to carry out an ongoing contract won through a tender by the Singapore Land Transport Authority (LTA) to supply about 4,000 EV charging stations in the parking lots of HDB public housing.
Charge+ is growing rapidly in the region. In Indonesia, the company is building the country’s largest EV charging hub in the Batang area in central Java to accommodate traffic on the trans-Java highway. In Thailand, it has already sealed an exclusive partnership with the largest electric taxi provider Ch.Pattana as charging partner.
The company plans to forge partnerships with other regional EV charging operators to expand the network. Charge+ currently operates over 2,000 EV charging points across six countries in the region. By 2030, it aims to deploy 30,000 EV charging points globally.
Dubai-based Bybit backs BGA Web3 Key Fund
The Association Blockchain Asia (ABA) and Blockchain for Good Alliance’s (BGA) joint venture, the BGA Web3 Key Fund, has raised $5 million, including $2.5 million from Dubai-based cryptocurrency exchange Bybit, e27 reported.
The fund plans to support its selected project through an incubation programme, which aims to strengthen the Web3 ecosystem in Asia.
Launched in April 2024, the BGA Web3 Key Fund is part of the BGA incubator programme with a mission to support projects geared towards social good with strong ESG elements. The programme focuses on projects that leverage blockchain technology to reduce inequality through education, improve health and security, promote financial inclusion, and address agricultural and environmental sustainability.
To date, more than 30 projects have been submitted and up to 10 have been carefully curated to go through the incubation programme, each receiving $200,000 in funding in their first year. Three of them are Fizen, EthicHub, and My Lovely Planet.
In the future, ABA and BGA plan to hold some events in Southeast Asia and the Middle East to extend their reach to new markets and explore initiatives to supplement their incubation programme.
