Electricpe Raises $5 Million In Pre-Series A Funding Round The company will use the combined capital of $8 million to deepen technology investments and scale operations
By Teena Jose
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ElectricPe, an EV charging aggregation platform, has closed a pre-Series A funding round of $5 million. The funding round was led by notable investors like Green Frontier Capital, Blume Ventures, and Micelio Fund, and also saw participation from Dubai based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels.
"We've received positive consumer response to our offering of a single app to find, use and pay across any charging or swapping station. Our belief has always been in stage-by-stage capitalisation as we ramp up our operations and create a holistic full-stack consumer-facing platform," said Avinash Sharma, co-founder and CEO, ElectricPe.
Since its inception in May 2021, ElectricPe has built the densest charging network in Bangalore, with 10,000 live charging points. In a span of 7.5 months, the ElectricPe app usage has increased by 30% month-on-month, with customers on the network completing 4 million green kilometres. The pre-Series A funding round is completed just 12 months after the seed funding round. ElectricPe will use the combined capital of $8 million to deepen technology investments and scale operations, claimed by the company in a statement.
We are focused on investing in homegrown start-ups which have a strong vision and are proving their ability to provide a unique technology solution to the growing climate change issue. As E-mobility is gaining 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," said Sandiip Bhammer, managing partner, Green Frontier Capital.
Co-founded by Avinash Sharma and Raghav Rohila in May 2021, ElectricPe makes access to charging points simple, seamless, and efficient. The company's next-gen technology helps users discover charging points and identifies the best while facilitating charging in any station across the country.
