Startup Repos Energy plans to raise ₹300 crore to fund expansion plans – EQ Mag Pro

Mumbai :  Industrialist Ratan Tata-backed energy distribution startup Repos Energy plans to raise around Rs 300 crore to fund its expansion plans.

The startup is looking to have 20,000 mobile fuel stations and 5,000 mobile electric vehicle charging stations in the next five years.

Repos Energy Co-Founder Aditi Bhosale Walunj said the company is also targeting a five-fold growth in the topline this fiscal on the back of a newly launched fintech platform for fuel financing.

In the last fiscal, the company posted a revenue of Rs 63 crore and now, looking at Rs 300 crore revenue in the current financial year.

Aditi, along with her husband Chetan Walunj, founded the startup in 2017. It has received funding from Tata Sons Chairman Emeritus Ratan Tata twice.

“We are looking at Series A round of funding in the next six months. Our plan is to raise around Rs 300 crore in this round of funding,” Aditi Bhosale Walunj told PTI. According to her, for four years, the company was bootstrapped and it was only in May this year that it garnered funds in pre-series from investors.

“We are now looking at green funds, impact funds, the climate funds, etc. This is what the world is looking for. The only things are that we have to tap the right people and right source,” she said.

Recently, the company mopped up Rs 56 crore as part of pre-series A funding with a mix of both debt and equity from Ratan Tata and other investors.

On the Electric Vehicles (EVs) front, she said the company was looking at 100 mobile EV charging stations by 2023, and 3,000 such facilities by FY26.

“In the next five years, our goal is to have 5,000 mobile electric vehicle charging stations as well as 20,000 mobile fuel stations,” she said.

Earlier this month, Repos Energy launched a mobile organic waste powered-EV charging solution as well as a ‘Repos Pay’ fintech platform for fuel financing.

Currently, Repos Energy has presence across 220 cities in the country with over 1,800 mobile fuel pumps.

Source: PTI