EV charging aggregator startup ElectricPe raises $3 million in funding – EQ
In Short : EV charging aggregator startup ElectricPe has raised $3 million in funding. This investment will support the company’s efforts to expand its network of electric vehicle charging stations and enhance accessibility for EV users.
In Detail : Bengaluru-based EV charging aggregator startup ElectricPe has raised $3 million in a pre-Series A funding round led by early-stage venture capital fund Green Frontier Capital.
The round also saw participation from existing investors, including Blume Ventures, Micelio Fund, and NB Ventures.
Purpose of fundraising
The startup plans to use the raised capital to strengthen its market position and expand its services to new regions. Additionally, the startup will invest in launching products and technologies.
Avinash Sharma, Co-founder and CEO of ElectricPe said, “Our goal is to drive EV adoption by consolidating everything in one place—charging, EV buying, and servicing. We have always believed in stage-by-stage funding, and this $3-million investment marks the closure of our pre-Series A round at $8 million, which began last year with $5 million.”
ElectricPe’s partnership with Google
The development comes shortly after ElectricPe partnered with Sundar Pichai-led Google to integrate EV charging station information into Google Maps, providing users with real-time availability and status of EV charging points.
The partnership is part of Google’s broader strategy to introduce new features and improve user experience on Google Maps.
What does ElectricPe do?
Founded in May 2021 by Avinash Sharma and Raghav Rohlia, ElectricPe operates as a full-stack super-app for electric vehicles. The app offers a range of services, including locating and paying for EV charging points, EV financing, servicing, and subscription plans.
Additionally, the startup operates multi-brand stores that provide a variety of electric two-wheelers, facilitating easier adoption of EVs.
It claims to have established a substantial network of over 25,000 public chargers in Bengaluru, making it the largest in the city.
“Green Frontier Capital is committed to backing innovative companies that are shaping a sustainable future. ElectricPe’s comprehensive approach to addressing the challenges in EV adoption aligns perfectly with our investment thesis,” said Sandiip Bhammer, Managing Partner of Green Frontier Capital.
