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EV charging startup RoadGrid raises Rs 12 Cr in pre-Series A round

EntrackrEntrackr · 1m ago
EV charging startup RoadGrid raises Rs 12 Cr in pre-Series A round
Medial

EV charging infrastructure startup RoadGrid has raised Rs 12 crore ($1.33 million) in a pre-Series A funding round led by Venture Catalysts, with participation from a mix of strategic and angel investors. The round also saw backing from Kamal Puri (Skyline Group), IPV, FAAD Network, LetsVenture, Vrinda Goyal (Pace Group), Haresh Patel (Arthanomics), and Maneesh Shrivastav (Alpha Value). The proceeds will be used to scale manufacturing, expand software integrations, and accelerate the nationwide rollout of charging stations. RoadGrid is building patented universal EV chargers that work across vehicle categories, including two-wheelers, three-wheelers, and four-wheelers. Alongside hardware, the company is developing a cloud-based software platform to manage charging operations and improve the end-user experience. RoadGrid operates across two segments. The first focuses on manufacturing and supplying chargers to EV OEMs, covering off-board and fast DC charging needs. The second involves setting up and operating public and commercial charging stations. The firm has active deployments in locations including Indore, Noida, and IOCL sites, and claims a confirmed pipeline of over 1,000 chargers. It also supplies chargers to EV manufacturers and fleet operators, with deployments supporting companies such as Euler Motors and VinFast’s India network.

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ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV

EntrackrEntrackr · 3m ago
ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV
Medial

ACS Energy raises Rs 1.1 Cr in pre-seed round led by IPV EV charging startup ACS Energy has raised Rs 1.1 crore (around $132K) in a pre-seed funding round led by Inflection Point Ventures (IPV). The proceeds will be used to deploy 5,000 UPI-enabled EV charging stations across Maharashtra and Gujarat, and to develop AI-driven energy management systems for high-rise buildings. Founded in 2022 by Jash Sheth and Mihir Bhanushali, ACS Energy is a UPI-enabled EV charging platform, combining hardware and software to make charging more efficient and accessible. Its chargers support two, three, and four-wheelers and integrate with the ACS Pay system, allowing users to complete transactions instantly through UPI. The startup is addressing a major gap in charging infrastructure for high-rise buildings and residential complexes, offering AI-based systems that manage power distribution and reduce energy waste. Currently active in Mumbai, Pune, Surat, Ahmedabad, and Kerala, ACS Energy plans to expand nationwide. As per market research, India’s EV charging market is projected to reach $13 billion by 2032, and ACS aims to be a key player in this growth by enabling seamless, digital-first charging experiences.

IAN Group backs Chargeup in Rs 22 Cr funding round

EntrackrEntrackr · 29d ago
IAN Group backs Chargeup in Rs 22 Cr funding round
Medial

IAN Group backs Chargeup in Rs 22 Cr funding round EV-focused mobility startup Chargeup has raised Rs 22 crore ($2.4 million) in a funding round backed by IAN Group, along with Cap-A and existing investors. The new round came after a gap of four years. This is the third funding round for the Delhi-based startup. In November 2022, the firm had raised $7 million in a pre-Series A1 round led by Capital-A and Anicut Capital. In the same year, it raised $2.3 million in its pre-Series A round led by Capital-A and co-led by Anicut Capital. The proceeds will be used to expand into high-demand EV markets, strengthen its technology platform for drivers and lenders, and scale operations across regions with rising electric three-wheeler adoption. Founded in 2019 by Varun Goenka and Satish Mittal, Chargeup is building a driver-first EV technology platform focused on last-mile drivers. The platform addresses challenges such as high financing costs, battery-related downtime, and income loss, which significantly impact earnings for EV three-wheeler drivers. Chargeup integrates IoT and data-led tools to reduce lending risk for NBFCs while improving earning stability, vehicle utilization, and resale value for drivers. The platform connects drivers, OEMs, dealers, and lenders within a single system. The startup has onboarded over 10,000 EV drivers and plans to add another 20,000 drivers by FY27. It operates in a market estimated at $12 billion, driven by increasing adoption of electric three-wheelers across logistics and passenger mobility.

EV charging startup Statiq raises $18 Mn led by Tenacity Ventures

EntrackrEntrackr · 1d ago
EV charging startup Statiq raises $18 Mn led by Tenacity Ventures
Medial

EV charging startup Statiq has secured $18 million (about Rs 163.2 crore) in a mix of equity and debt funding round led by Tenacity Ventures along with participation from Y Combinator, Shell Ventures, and RCD Holdings. Entrackr exclusively reported on this potential deal back in October last year. The company last raised $25.7 million in a Series A round led by Shell Ventures in mid-2022. The proceeds will be allocated towards scaling its charging infrastructure and expanding its presence across Tier I and II cities, powering hardware lifecycle improvements, and advanced telematics, Statiq said in a press release. Co-founded in 2020 by Akshit Bansal and Raghav Arora, Statiq builds and operates EV charging infrastructure and runs a consumer app for locating and booking charging points. The startup offers a mix of hardware and software-led services, with its hardware segment including chargers and related infrastructure contributing the majority of its revenue. It also runs a financing program for EV charging stations in partnership with the State Bank of India to accelerate infrastructure expansion. According to Statiq, users of its mobile app can avail charging services from its charging network along with other providers like E-Fill, Sunfuel, and GLIDA. It has also collaborated with government bodies, automakers, and hospitality companies to expand its charging network coverage to about 100 cities where it has installed over 10,000 chargers. In the EV charging infrastructure sector, Statiq faces competition from well-funded startups such as Charge Zone, ElectricPe, Bolt.Earth, and IPEC. It aims to double the number of installed chargers by the end of 2026.

Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr

EntrackrEntrackr · 1y ago
Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr
Medial

Cancer focused biotech startup Immuneel Therapeutics has raised Rs 100 crore or $12 million in the extension of Series A round from Taiba Middle East FZ LLC. This is the third round of investment for the Bengaluru-based company since its inception in 2018. The board at Immuneel Therapeutic has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, its regulatory filing accessed from the Registrar of Companies show. The company will use these investments for growth and expansion as decided by the board, the filings further added. As per TheKredible’s estimates, the firm has been valued at around Rs 587 crore or $71 million (post-allotment). Following the fresh proceeds, Taiba Middle East FZ holds a 17% stake in Immuneel Therapeutics. The round appears to be ongoing and it may raise more funds. The company has raised around $40 million to date including its $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022. Founded by Biocon founder Kiran Mazumdar Shaw, oncologist and Pulitzer winner — Siddhartha Mukherjee and Kush Parwar, Immuneel Therapeutics is an Indian clinical-stage startup which is engaged in developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for management and treatment of cancer. The firm claims to offer therapies at one-third of the costs borne for gene therapies in America. While the company is yet to file its annual statements for FY24, six-year-old Immuneel Therapeutics remained at a pre-revenue stage in FY23. Its losses stood at Rs 39 crore in the fiscal year ending March 2023.

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