Charged Asia, a Singapore-headquartered electric vehicles (EV) startup, on Monday announced raising up to $40 million of growth capital from SGX-listed Geo Energy. The funds will be disbursed in tranches via a combination of convertible loans and share placements.
The funding is expected to close by the end of next year, Charged Asia CEO Joel Chang told DealStreetAsia.
The company plans to utilise the fresh funding to further scale its growth in Indonesia and Southeast Asia as part of its efforts to support the energy transition in the region.
“Geo Energy Resources, a leading energy provider, has provided strong commitment towards our future growth, highlighting its forward-looking pledge to energy transition,” said Chang.
