PlugLink, a Korean startup specializing in electric vehicle (EV) charging infrastructure, has signed a 10 billion KRW investment agreement with KDB Infrastructure Asset Management, Korea’s largest alternative investment asset manager.

This new investment follows an initial 15 billion KRW agreement made in January 2023, bringing the total commitment to 25 billion KRW. The investment will be managed by a fund under KDB Infrastructure Asset Management.

To date, PlugLink has secured a total of 40.5 billion KRW in funding, including 26.6 billion KRW from asset investments and 14 billion KRW from corporate investments. Thanks to these substantial investments, PlugLink achieved third place among Charging Platform Operators(CPO) last year in terms of new slow charger installations and currently provides comprehensive charging services for over 13,000 chargers.

Kang In-cheol, CEO of PlugLink, commented, “With our proven expertise in structured finance and operational performance for charging infrastructure, we aim to continue expanding our funding through collaborations with various financial institutions.”