Electrifuel, an electric vehicle (EV) technology startup, has raised Rs 1.8 crore in funding from the Indian Angel Network (IAN), led by lead investors Vishnuraj Kunjur, Sahil Kejriwal, and Pradeep Gupta.

The startup will use the funds to hire for multiple roles as it expands its team to scale production and invest in research and development (R&D).

Electrifuel | Green And Clean Energy

Founded by Ujjwal Bhardwaj, Sumesh Kumar, Abhishek Kumar, and Sunil Kumar, in 2017, Electrifuel is working on EV technologies that have the potential to accelerate the world’s transition from fossil fuel to electric.

The startup helps EV and battery manufacturers provide products with precise geolocation and cellular connectivity, efficient and fast charging, battery swapping, warranty, and service management.

Speaking about the development, Ujjwal Bhardwaj, cofounder of Electrifuel, said,

“While we have been a bootstrapped company since our inception, with IAN backing us now, we will scale up at a much faster pace and grow our team. We are looking to speed up the development of new products, acquire more clients, and expand our overall footprint.”

Electrifuel claims to have deployed more than 15,000 units of its products to over 25 customers and is in trials with four battery manufacturers.

In addition to a battery management system, the startup also provides hardware such as a motor controller, vehicle control unit, telematics, and a complete suite of web & mobile apps for enterprises and customers.

Commenting on the development, Vishnuraj Kunjur, lead investor at IAN, said,

“Electrifuel has developed proprietary, indigenous battery management (BMS), telematics hardware, and EV operating system through its SaaS model. Their equipment and software model are proven considering the number of units implemented by leading manufacturers such as Greenfuel, Indigrid, Waaree, and Hyperex, among others. We are excited to be part of Electrifuel’s journey, growth, and mission.”

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