Funding Alert

EV startup REVOS raises $4M Series A investment, aims to be ‘Android for EVs’

• ByAyushi Ray     |    September 2, 2021

EV startup REVOS raises $4M Series A investment, aims to be ‘Android for EVs’ . The startup will use the fresh funds to deploy EV chargers across India, and further strengthen its technology team. Over the next three years, the startup plans to expand its charging network to one million chargers in 500 cities across India and other emerging markets, and to power several million two- and three-wheeler EVs. The startup will also hire aggressively across all business functions in the next few months. Founded in 2017 by Jyotiranjan (Jyoti) Harichandan and Mohit Yadav, REVOS stands for Revolutionary EV Operating Stack. It is an AI-integrated IoT platform that aims to make EVs smart, safe, and connected.

Speaking of why they chose to invest in the startup now, Sanjay Swamy, Managing Partner of Prime Ventures, says “EV is at the cusp of the early-adopter phase in India – and we all know that the real opportunity will be in electric two-wheelers. As with our experience with mobile recharge and digital payments, these are two-sided problems wherein vehicles justify the presence of charging stations and conversely, charging stations justify buying vehicles. We’re starting to see a lot of government subsidies and push from OEM’s to manufacture vehicles – hence, feel we are at the start of something big.”

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