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EV charging infra startup Charge Zone scoops up $19 Mn

EntrackrEntrackr · 1y ago
EV charging infra startup Charge Zone scoops up $19 Mn
Medial

Electric vehicle (EV) charging network Charge Zone has received a $19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. In March last year, the Vadodara-based startup scooped up $54 million in its Series A1 funding round led by BlueOrchard Finance. Charge Zone will use the funds for expansion of its high-speed charging network for electric cars, buses, and trucks across key cities and highways in India, the company said in a press release. It also plans to roll out more than 1,500 supercharging stations over the next 18 months and reach a portfolio of over 10,000 charging stations by 2027. Led by Kartikey Hariyani, the six-year-old Charge Zone provides super-fast EV charging with more than 3,200 points across more than 400 locations in India and UAE. The firm has tied up with several OEMs and e-mobility companies including Hyundai, Mahindra & Mahindra, Ashok Leyland, Volvo Eicher, Tata Motors, Marriott, Hyatt, Fortune, and Landmark Group. Charge Zone added that the investment from BII is a part of their long-term plan to create a network of one million charging points for all 4W categories of vehicles including cars, buses and trucks by 2030. It will focus on key markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bengaluru and Chennai. For the fiscal year ended in March 2023, the company reported nearly three fold jump in its operating revenue to Rs 46.93 crore, according to startup data intelligence platform TheKredible. During the period, its losses surged two fold to Rs 9.89 crore. In the rapid EV charging space, it competes with ElectricPe, Bolt.Earth, Ather Energy, BluSmart, Magenta Power, among others.

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E-mobility startup Kazam raises $8 Mn led by Vertex Ventures

EntrackrEntrackr · 11m ago
E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Medial

E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startup’s aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

EV charging startup IPEC bags $3 Mn from Gruhas

EntrackrEntrackr · 3m ago
EV charging startup IPEC bags $3 Mn from Gruhas
Medial

EV charging startup IPEC has secured an investment of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. The proceeds will be used to strengthen its aim to consolidate its leadership status in the EV charging sector and accelerate growth in the broader power electronics domain, IPEC said in a press release. IPEC was founded in 2017 by the MEHER Group, together with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. The platform offers a range of EV charging products that include private, portable, and public chargers as well as EV Connectors and Vehicle Charging Inlets. These products are fully compliant with various national and international standards and the latest localisation regulations, including the PM E-Drive and PLI Scheme. Beyond hardware, IPEC also offers Cloud-based Charging Management Systems (CMS) and a user-friendly mobile app for real-time control and insights. IPEC is an approved supplier to leading EV OEMs like Ather Energy, Bajaj Auto, Greaves (Ampere), and more. The Bengaluru-based company aspires to drive energy transition in e-mobility with intelligent, reliable, and cost-effective charging solutions at scale that address India’s specific needs and the rising demand for locally manufactured alternatives. IPEC claims to have witnessed a 40% growth in revenue in FY25 and anticipates doubling its revenue in FY26. The company also plans to expand its avenues and capabilities into global markets. It claims to have delivered over 1 million EV charging products to the top EV OEMs in India and is gearing up to expand its manufacturing capacities to 50,000 units per month.

Voltpost wants to bring curbside charging to a lamppost near you

TechCrunchTechCrunch · 1y ago
Voltpost wants to bring curbside charging to a lamppost near you
Medial

Voltpost, a startup from New York City, has developed a product that retrofits street lampposts for electric vehicle (EV) charging. The device, which took a year to design and develop, is essentially a shroud that covers the lower part of the lamppost and contains all the electronics and cables needed for charging. It can charge two to four EVs at Level 2 speeds, making it suitable for overnight charging. The design is modular for easier repairs and upgrades, and charge station managers have access to custom software for pricing and remote monitoring. Voltpost's chargers can be installed quickly and the startup has projects in development and deployment in cities including New York, Chicago, and Detroit.

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