EV Charging Startup goEgoNetwork Raises $8 Million The fund will be utilized in developing and installing the fast DC charging station product line

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

EV charging infrastructure solutions start-up, goEgoNetwork, has raised $8 million in Series A equity funding. Disrupting the energy and transportation space with its vision to create a robust EV charging network, goEgoNetwork will use the funds in developing and installing the fast DC charging station product line. It will also enable the startup to become a dominant player in six major Indian metropolitans.

"The EV industry is growing exponentially and the funding gives us growth capital to pursue the big plan of having the EV charging infrastructure in place for the people who are not buying because of range anxiety. It helps us in consolidating our position of being the preferred network for EV users by having charging stations which are having 100 per cent uptime and ensure you to stay charged up," said Sayantan Chakraborti, managing director & co-founder, goEgoNetwork.

In the short run, the funding will enable a targeted reach of 8,500 charging stations across India with 15,000 paying members on the Country..Currently, goEgo has more than 1,000 charging points across over 55 cities of 15 states in the Country, claimed by the company in a statement.

"The funding accelerates our pace in achieving the numbers of our business plan and execute our vision of enabling two million EV users charging seamlessly across our network," said Pravin Kumar, co-founder, goEgoNetwork.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Bottled Water Brand Energy Beverages Secures INR 45 Cr from JM Financial Private Equity

The Ahmedabad-based startup intends to infuse the funds to accelerate its present and future expansion goals.

Business News

Reddit Debuts on New York Stock Exchange, First Major Tech IPO Since Pinterest in 2019

Reddit's IPO at $34 per share values the social media platform at around $6.4 billion.

Marketing

Want to Get Your Product into the Hands of Celebrities and Secure Endorsements? Here's an Effective Strategy You Need to Try.

Celebrity gifting suites at events like the Oscars and Grammys provide a prime opportunity for brands to boost visibility and earn endorsements.

Business News

A Texas Man Reportedly Boarded a Delta Airlines Flight With a Fake Boarding Pass

The 26-year-old used a photo of another passenger's pass and gained access to the aircraft.

Productivity

This $40 Business Tool Helps You Organize Everything

Meet Taskomat, your key to organization and productivity.