EV Startup NIKOL EV Raises Undisclosed Amount In Pre-Seed Funding With this funding, NIKOL EV plans to strengthen its team with experienced professionals and establish a robust backend support system to facilitate business scaling
By Teena Jose •
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EV Startup NIKOL EV raises undisclosed amount in pre-Seed funding from EvolveX, an early-stage program founded by We Founder Circle. The round also saw participation from investors including Vikas Aggarwal, Neeraj Tyagi, and Bhawna Bhatnagar. With this funding, NIKOL EV plans to strengthen its team with experienced professionals and establish a robust backend support system to facilitate business scaling.
"We want to thank EvolveX and We Founder Circle for showing their trust in us and our vision. We are turning EV owner's experience of non-availability and non-functionality of chargers into a pleasant charging experience and with the support of our investors we will be able to create a healthy ecosystem for EV stakeholders and scale faster towards adoption of Electric Vehicles in India," said Arjun D Pawar, Founder and CEO, NIKOL EV.
The company further said it aims to develop a hybrid charger capable of charging 2-wheelers, 3-wheelers, and 4-wheelers simultaneously, with a portion of the funds allocated for testing and certification.
Founded by Arjun D Pawar, NIKOL EV is building one of the largest and operational EV charging Infrastructure in India with a focus on providing innovative and sustainable solutions and a customer-centric approach in their service for a seamless and pleasant charging experience.
"Insufficient charging infrastructure continues to pose a major barrier to achieving widespread adoption of electric vehicles (EVs). The scarcity of charging stations and the persistent issue of range anxiety discourage potential buyers from fully embracing the transition to electric vehicles. At EvolveX, we are committed to addressing this challenge by investing in startups like NIKOL EV. With their commitment to enhancing accessibility and uptime of EV charging stations, NIKOL EV emerges as a key driver of mass-scale EV adoption, contributing to a cleaner, sustainable transportation landscape," said Bhawna Bhatnagar, co-founder, EvolveX.
