EV Charging Startup goEgoNetwork Raises $8 Million

The fund will be utilized in developing and installing the fast DC charging station product line

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

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.

Company handout

"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.