Friday, March 31, 2023

EV charging aggregation platform ElectricPe raises $5M in a pre-Series A round

ElectricPe, a Bengaluru-based EV charging aggregation platform, announced the closure of its pre-Series A funding round of $5 million. Green Frontier Capital, Blume Ventures, and Micelio Fund led the round.

The round also saw participation from Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels.

The startup plans to use the combined raised capital of $8 million to deepen technology investments and scale its operations.

Founded in May 2021 by Avinash Sharma and Raghav Rohila, ElectricPe offers a B2C EV charging and demand generation app. the startup promises to be a one-stop platform where EV users can quickly identify, access, and pay for EV charging points.

In 7.5 months, ElectricPe claims that its app usage has increased 30% month on month, with customers on the network completing 4 million green kilometres.

Sandiip Bhammer, Managing Partner, Green Frontier Capital, who participated in the recent fundraising, 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.”

Shreyas Shibulal, CEO & Founder of Micelio Fund – an investor in ElectricPe, said, “Electric Pe’s growing market success and drive to increase efficiency in the EV industry have been proven since its inception.”

Arpit Agarwal, Director, Blume Ventures and another investor added that “Having a trusted dense network of charging/swapping points to find, use and pay will not only help increase adoption, but also utilisation of charging infrastructure.”

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