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GFC leads $3 Mn round in EV charging startup ElectricPe

EntrackrEntrackr · 1y ago
GFC leads $3 Mn round in EV charging startup ElectricPe
Medial

Electric vehicle super-app ElectricPe has raised $3 million in pre-Series A round led by Green Frontier Capital along with participation from its existing investors Blume Ventures, Micelio Fund, and NB Ventures. The Bengaluru-based company had previously raised $5 million in pre-Series A round from its existing investors. The fresh funds will be used for growth, innovation initiatives, and expansion to new geographic locations, ElectricPe said in a press release. Co- founded in May 2021 by Avinash Sharma and Raghav Rohila, ElectricPe is a full-stack super – app that allows users to identify, access and pay for EV charging points regardless of their charging type. The platform’s multi-brand stores present prospective buyers with a wide range of E-2 wheelers to choose from while also offering users EV financing, servicing and subscription plans. Recently, ElectricPe collaborated with Google which enables users across India to view the availability and status of charging points in real-time. ElectricPe says that it operates in more than 25,000 public chargers and claims to have captured over 15% of the market share of all personal EV 2-wheeler sales in Bengaluru within 8 months. ElectricPe may directly or indirectly compete with other startups in this space such as e-Amrit, Statiq, PlugShare and others. Green Frontier Capital is an early-stage VC fund and backed some of the prominent startups like Battery Smart, BluSmart Mobility, E-Motorad, Nutrifresh amongst others.

Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels

EntrackrEntrackr · 14d ago
Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels
Medial

Exclusive: Dhan delivers 45X returns to Kunal Shah, PhonePe founders and other angels Fintech investing platform Dhan has facilitated early-stage exits, with several angels and early investors securing hefty returns through a secondary transaction executed alongside its ongoing Series B round, according to sources aware of the matter. “Few angels who are building competing businesses, including Cred’s Kunal Shah, Miten Sampat, and members of the PhonePe founding network, have secured a full exit, generating nearly a 45X return in under four years,” said one of the sources, requesting anonymity. “This is one of the quickest and highest-multiple exits for angel investors in fintech in recent memory,” said the source cited above. According to the sources, early backers Mirae, Beenext, and 3one4 Capital have sold part of their holdings, earning 9–10X returns within three years. The secondary component was executed in parallel with Dhan’s $120 million Series B round, led by Hornbill Capital and featuring participation from MUFG Bank, Beenext, and a pool of public-market investors and family offices. Dhan currently has $160–180 million in cash on its balance sheet, and the primary money from the Series B will also be utilised for the acquisition of Statzy and some more potential startups, the sources added. Entrackr reached out to Dhan on Thursday for comments on the secondary transaction and will update the story if they respond. Kunal Shah and Miten Sampat declined to comment. PhonePe co-founders confirmed the exit but did not comment on returns earned. We have also reached out to Beenext, 3One4 Capital, and Mirae Asset. Founded in 2021 by Pravin Jadhav, Dhan operates as a stockbroking and investment platform aimed at active traders and Gen Z investors. It offers equity, ETF, and futures and options trading across NSE, BSE, and MCX, along with integrations for smallcase, TradingView, and MoneyControl to enhance user experience. Financially, Dhan has reportedly achieved strong performance, clocking around Rs 900 crore in revenue during FY25 against Rs 380 crore in FY24, while maintaining cash-flow positivity for multiple years. Dhan joins the growing list of profitable stockbroking unicorns in India, alongside Zerodha, Groww, and Angel One.

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