Finnish-based Virta who is a provider of charging services for electric vehicles, has raised 85 million euros to expand its operations in Southeast Asia.
The capital have been donated by investors such as Jolt Capital, Future Energy Ventures, Helen Ventures, and Vertex Growth Fund.
The funds will be used to grow its charging transactions in the Asia Pacific. The company wishes to expand into Malaysia, Indonesia, and Vietnam within the next two years.
Virta, whose Asia-Pacific headquarters is located in Singapore, plans to introduce its smart-charging capabilities for Asian markets later this year.
In Southeast Asia, Virta has partnerships with Thailand’s EVolt Technology and Malaysia’s VSD Automation.