ChargeGrid, a Navi Mumbai-based brand operated by Magenta EV Solutions, has raised its pre-Series A equity round of funding led by JAN (JITO Angel Network) and LetsVenture.
Started in 2017, the company provides hardware, software, installation and operations and maintenance services for solutions related to electric vehicle (EV) charging.
ChargeGrid claims to be a pioneer in creating the EV ecosystem in India — from manufacturing & deploying chargers to managing & monitoring EV charging systems.
The company had previously raised funding from Hindustan Petroleum Corporation Ltd in 2018 and was incubated by Shell the next year. In 2020, the company got selected for the Microsoft Global StartUp programme.
As per the Navi Mumbai-based brand, their EV charging stations are fully automated, completely unmanned, payment gateway enabled open network for charging stations for electric vehicles.
The company operates in over ten cities catering to B2B, B2C and B2B2C customers.
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