ElectricPe, a Bengaluru-based EV charging aggregation platform, has closed a pre-Series A funding round of $5 million. The funding round was completed just 12 months after the startup raised a seed funding round.
Led by Green Frontier Capital, Blume Ventures, and Micelio Fund, the funding round also saw participation from Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels.
The EV charging aggregation platform hopes to use the combined capital of $8 million to deepen technology investments and scale operations.
ElectricPe | EV Charging Platform
Founded by Avinash Sharma and Raghav Rohila in May 2021, ElectricPe offers a B2C EV charging and demand generation app. The EV charging aggregation platform promises to be a one-stop platform where EV users can quickly identify, access, and pay for EV charging points.
Speaking about the development, Avinash Sharma, Co-Founder & CEO of ElectricPe, said,
“Our belief has always been in stage-by-stage capitalisation as we ramp up our operations and create a holistic full-stack consumer-facing platform.”
As per the startup, in a span of 7.5 months, its app’s usage has increased 30% month-on-month, with customers on the network completing 4 million green kilometres.
The Bengaluru-based charging aggregator claimed to have built the “most dense” charging network in Bengaluru, with 10,000 live charging points since inception.
Commenting on the development, Sandiip Bhammer, Managing Partner, Green Frontier Capital, said,
“As electric mobility is gaining traction in India, ElectricPe has identified a primary challenge and is working to create easy and seamless access to a trusted network of charging points/swapping stations all in one space.”
In July 2022, Ratan Tata-backed mobile energy distribution startup Repos Energy announced the launch of an organic waste-powered ‘mobile electric charging vehicle’ solution. Another electric vehicle charging network startup, Statiq, raised $25.7 million (over Rs 200 crore) in its Series A funding round led by Shell Ventures.
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