ElectricPe raises $5M in funding round led by Green Frontier Capital, Blume Ventures, Micelio Fund
, an EV charging aggregation platform, has closed a pre-Series A funding round of $5 million. The round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund.
Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the round.
The pre-Series A funding round was completed just 12 months after the seed funding round. ElectricPe hopes to use the combined capital of $8 million to deepen technology investments and scale operations.
Founded in May 2021 by Avinash Sharma and Raghav Rohila, ElectricPe offers a B2C EV charging and demand generation app. It promises to be a one-stop platform where EV users can quickly identify, access, and pay for EV charging points.
"Our belief has always been in stage-by-stage capitalisation as we ramp up our operations and create a holistic full-stack consumer-facing platform," said Avinash Sharma, Co-Founder & CEO, ElectricPe.
In a span of 7.5 months, ElectricPe app's usage has increased 30% month on month, with customers on the network completing 4 million green kilometres, said a statement from the company.
The Bengaluru-based charging aggregator says ElectricPe has built the "most dense" charging network in Bengaluru, with 10,000 live charging points since inception.
“ElectricPe is working to create easy and seamless access to a trusted network of charging points/swapping stations all in one space,” said Sandiip Bhammer, Managing Partner, Green Frontier Capital.
“The EV sector is growing at a rapid pace and consumers are seeking full stack solutions, in one place," said Arpit Agarwal, Director, Blume Ventures. "Having a trusted dense network of charging/swapping points to find, use and pay will not only help increase adoption, but also utilisation of charging infrastructure."
Edited by Swetha Kannan