Plugzmart, a developer of EV chargers, has raised Rs 3.63 crore in seed funding
- ByStartupStory | December 21, 2022
Plugzmart, based in Chennai, has acquired Rs 3.63 crore in seed funding from Bluehill Capital and angel investors Meera Reddy of SKCL, Kartik Meyyappan, L Ramkumar, Sivadas Raghava, and Shailaja Reddy.
The money will be used for R&D and team expansion, in addition to ramping up manufacturing to match the substantial order funnel already in place. In the next three years, the business hopes to offer at least one million chargers designed and manufactured in the country.
Plugzmart is an OEM of electric vehicle chargers as well as a SaaS supplier of electric charging infrastructure. Plugzmart, which was incubated at IIT Madras in 2019, has designed its own IoT-enabled smart EV charging management system to integrate and connect with chargers. Its nine-product line includes chargers for two-, three-, and four-wheelers.
Throughout India, PlugZmart provides an end-to-end, full charging infrastructure solution. They provide dependable smart chargers, rapid chargers, on-demand portable chargers, and mobile applications with robust connections to satisfy the needs of the future generation of smarter mobility.
Its sleek design and high power make it ideal for making charging easier, faster, and better. These chargers may provide clients with real-time data from anywhere, allowing the user to plan their charging hours.
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