[Funding alert] EV charging station aggregator platform EV Plugs raises $150K
EV Plugs, an EV charging station aggregator platform covering EV charging stations from brands like EESL, Tata Power, Statiq, Magenta, Ather and many more, has raised $150,000 in a round led by family and friends.
The startup said it will utilise the funds to expand EV charging network coverage in 150+ cities. In the next two years, the company is planning to expand its charging network to over 50,000 chargers in 200+ cities across India and other emerging markets, and to power several million two and three-wheeler EVs.
Commenting on the funding, Manish Narang, Co-founder, EV Plugs, said,
“The goal we have set upon ourselves is to become the largest aggregator in the EV charging infrastructure space in India. We have observed that the EV adoption in metros is catching up at a much faster rate and the demand for charging infrastructure is wide. The money raised will allow us to continue our aggressive geographical expansion besides investment in innovation to keep us ahead of the curve.”
Manas Gupta, independent angel investor, added,
“Being an avid EV enthusiast myself, I know in the EV sector, more focus has begun on installing charging infrastructure. This will be the single most important factor, which drives the adoption of electric vehicles and a considerable shift towards green technology solutions. The transition towards sustainable mobility is an unstoppable global trend and companies which can provide reliable, fast and cost-efficient electric charging infrastructure for all types of vehicles will make a huge impact. Independent studies have projected the demand for public EV charging stations at 2.9 million by 2030.”
Delhi-based EV Plugs was co-founded in 2021 by EV enthusiasts Manish Narang, Kapil Narang and Ashwani Arora. The startup claims to have over 1000 verified listings, helping to remove the range of anxiety issues that many existing and potential EV owners have. Its app is available for iOS and Android users.