Electric vehicle (EV) charging networks are becoming increasingly important as the adoption of electric vehicles continues to rise. Networks like ElectricPe provide convenient and reliable places for EV drivers to charge their vehicles, helping to remove range anxiety and increase the appeal of electric transportation.
One such EV charging network is ElectricPe, an Indian charging aggregation platform that recently closed a pre-series A funding round of $5 million.
The company, which was founded in May 2021 by Avinash Sharma and Raghav Rohila, has raised a total of $8m to date, including the recent pre-series A round and a previous seed funding round. The funds will be used to scale operations and invest in technology.
ElectricPe offers a B2C EV charging and demand generation app that aims to provide a one-stop platform for EV users to identify, access and pay for charging points.
The app has seen usage increase by 30% month on month over the past 7.5 months, with customers on the network completing 4 million green kilometres, according to the company. ElectricPe claims to have built the “most dense” charging network in Bengaluru, with 10,000 live charging points since its inception.
“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 & CEO, ElectricPe.
In a span of 7.5 months, ElectricPe app’s usage has increased 30% month on month, with customers on the network completing 4 million green kilometres, said a statement from the company.
ElectricPe Claims to Have Built the Most Dense EV Charging Network in Bengaluru
The Bengaluru-based charging aggregator says ElectricPe has built the “most dense” charging network in Bengaluru, with 10,000 live charging points since inception. “ElectricPe 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.
“The EV sector is growing at a rapid pace and consumers are seeking full stack solutions, in one place,” said Arpit Agarwal, Director, Blume Ventures. “Having a trusted dense network of charging/swapping points to find, use and pay will not only help increase adoption, but also utilisation of charging infrastructure.”
EV charging networks like ElectricPe are playing a crucial role in increasing the adoption of electric transportation. By providing convenient and reliable charging options, they help to remove one of the major barriers to switching to electric vehicles – range anxiety. As more and more people make the switch to electric, the importance of well-developed charging networks will only continue to grow.
The funding round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund, with participation from Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus and Climate Angels.