EV charging startup ElectricPe raises $3 million
- ByTejika Bajaj | November 12, 2021
EV charging platform ElectricPe has raised $3 million in its seed round of funding led by Blume Ventures and Micelio Funds.
The round also saw participation from investors like Anshuman Bapna (Terra.do), Anupam Mittal (Shaadi.com), Arjun Ravi Sheth (Partner, Anchorage Capital Partners), Ashish Goel (Urban Ladder), Bhuvan Gupta (OfBusiness), Jasminder Singh (Nowfloats), Khadim Batti and Vara Kumar (Whatfix) and Mukul Rustagi (Classplus).
The startup aims to utilize the recently infused capital to further develop its deep-tech platform to enable easy access to affordable charging points via the ElectricPe App.
Following the seed round of funding, the Director of Blume Ventures, Arpit Agarwal commented, “We are particularly excited about partnering with Avinash and Raghav on their journey to take India successfully into the new world of EVs, as the #1 reason for the lack of adoption of EVs in India is the lack of charging infrastructure. Unfortunately, it is also a catch-22 situation as charging infrastructure providers won’t invest unless they see demand, and consumers won’t buy vehicles until they see the infrastructure. ElectricPe is looking to disrupt the market by bridging this gap. In doing so, they will soon become the largest EV charging platform in India.”
Founded in May 2021 by Avinash Sharma and Raghav Rohilla, ElectricPe makes using electric charging points simple, seamless and efficient. Its app provides information related to charging stations and makes procurement of EV fuel affordable and simple.
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