ElectricPe Raises $3 Million in Pre-Series A Funding Led by Green Frontier Capital
- ByStartupStory | July 30, 2024
EV charging aggregator startup ElectricPe has successfully secured $3 million in a pre-Series A funding round. This round was led by Green Frontier Capital, with participation from existing investors Blume Ventures, Micelio Fund, and NB Ventures. The newly raised funds will be directed towards geographic expansion and the launch of new products.
ElectricPe, which was founded in 2021, operates a full-stack super app that allows users to locate, access, and pay for EV charging points. The app also supports multi-brand stores offering E-2 wheelers, EV financing, servicing, and subscription plans. The company has experienced significant growth, now managing over 25,000 public chargers and facilitating more than 28 million green kilometers. Additionally, ElectricPe holds over 15% of the market share for personal EV 2-wheeler sales in Bangalore.
Avinash Sharma, Co-Founder and CEO of ElectricPe, expressed optimism about the company’s future with the new funding, stating, “The funding will help consolidate the company’s services into a single platform to cater to all EV needs.” This investment marks the conclusion of ElectricPe’s pre-Series A round at $8 million, which began last year with an initial $5 million.
Sandiip Bhammer, Managing Partner of Green Frontier Capital, highlighted the firm’s dedication to sustainability and ElectricPe’s role in promoting EV adoption, saying, “We are committed to backing companies that promote sustainability and ElectricPe’s comprehensive approach to EV adoption aligns perfectly with our vision.”
In a significant development, ElectricPe has been chosen to partner with Google to bring EV charging station availability to Google Maps and Google Search in India, making it the first such initiative for two-wheelers globally.
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