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Chargeup is building Bharat's largest battery swapping network addressing the range anxiety and high batter cost issue. It offers Battery as a Service through its distributed network.
Basic Information
Charge-up is Bharat’s largest battery swapping network founded by Varun Goenka and Akshay Kashyap in 2019. Charge-up offers the simple solution of Battery as a Service (BAAS). The core objective of Charge-up is to create the largest distribution network for electric 2&3 wheelers. The company enables the e – rickshaw drivers to join the service without any upfront costs. By subscribing to a daily battery rental plan, Charge-up allows the drivers to visit the swapping station as many as 2-3 times a day to swap the discharged batteries with fully – charged batteries. The entire battery swapping process takes just about 2 minutes and the Lithium-ion batteries weigh less than 30 kg as compared to the conventional ones. Through this practice, the company has allowed the drivers to increase their range and revenue. From 120 swaps a month at inception, the company is currently handling over 3000 a month through its station in Delhi/NCR.
Legal Name
:
EChargeup Solutions Private Limited
Headquarters
:
New Delhi, Delhi, India
Business Model
:
B2B2C  
Founding Date
:
2019
No. of Employees
:
11 to 20
Core Team
:
1.  
Varun Goenka
Co-Founder & CEO
2.  
Akshay Kashyap
Co-Founder
Revenue Stream
Funding
Detail Round Breakdown
Round 1
Round 2

$2.5M

Series Name
:
SEED
Date
:
22nd Feb 2022
Investors
:
1.  
Capital-A
2.  
Anicut Capital
3.  
Tiger Shroff
4.  
Shraddha Kapoor

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