ElectricPe, a Bengaluru-based EV charging aggregation platform, has announced the completion of its $5 million pre-Series A funding round. The round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund.
Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the round.
The startup intends to use the $8 million in total raised capital to expand its technology investments and scale its operations.
Avinash Sharma and Raghav Rohila founded ElectricPe in May 2021 to provide a B2C EV charging and demand generation app. The startup promises to be a one-stop platform for EV users to quickly identify, access, and pay for EV charging points.
ElectricPe claims that in 7.5 months, app usage has increased by 30% month on month, with customers on the network completing 4 million green kilometres.
In response to the recent fundraising, Sandiip Bhammer, Managing Partner at Green Frontier Capital, stated: “As electric mobility gains 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.”
ElectricPe investor Shreyas Shibulal stated, “Electric Pe’s growing market success and drive to increase efficiency in the EV industry have been proven since its inception.”
Arpit Agarwal, Director of Blume Ventures and another investor, added, “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.”
