EV Plugs Secured $150,000 In Funding Round The platform will utilize the funds to expand EV charging network coverage in more than 150cities
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
New Delhi-based EV Plugs—electric vehicle (EV)charging station aggregator platform covering EV charging stations from brands like EESL, Tata Power, Statiq, Magenta, Ather, and many more—on Thursday announced to have raised $150,000 in a round led by family and friends.
The platform will utilizethe funds to expand EV charging network coverage in more than 150 cities.
"The goal we have set upon ourselves to become the largest aggregator in the EV charging infrastructure space in India. We have observed that the EV adoption in metros is catching up at a much faster rate and the demand for charging infrastructure is wide. The money raised will allow us to continue our aggressive geographical expansion besides investment in innovation to keep us ahead of the curve," said Manish Narang, co-founder, EV Plugs.
"Being an avid EV enthusiast myself knows in the EV sector, more focus has begun on installing charging infrastructure. This will be the single most important factor, which drives the adoption of electric vehicles and a considerable shift towards green technology solutions. The transition towards sustainable mobility is an unstoppable global trend and companies which can provide reliable, fast, and cost-efficient electric charging infrastructure for all types of vehicles will make a huge impact. Independent studies have projected the demand for public EV charging stations at 2.9 million by 2030," explained Manas Gupta, independent angel investor.
In the next two years, the company is planning to expand its charging network to over 50,000 chargers in more than 200 cities across India and other emerging markets and to power several million two and three-wheeler EVs.
