ElectricPe raised Blume Ventures & Micelio Fund led USD 3 M seed funding
ElectricPe announced on Thursday that it has secured USD3 million in a Seed Round. The business will use the funds to further build its deep-tech platform, which will provide simple access to inexpensive charging sites via the ElectricPe App, led by Blume Ventures and Micelio Fund.
Other notable Angel Investors who made investments included Anshuman Bapna, Anupam Mittal (Shaadi.com), Arjun Ravi Sheth, Ashish Goel, Bhuvan Gupta (OfBusiness), Jasminder Singh, Khadim Batti & Vara Kumar, Mukul Rustagi (Classplus), Murthy Aradhi, Nikheel Kamble, Pallav Singh, Ramakant Sharma of Livspace.
Avinash Sharma and Raghav Rohila founded the firm in May 2021 to make accessing and utilizing charging stations simple, frictionless, and efficient. The pair, who have extensive experience in the electric mobility industry, have developed a B2C EV charging and demand generation app that provides EV users with a single point of access to EV charging points while also tracking real-time usage and ensuring a reliable network wherever and whenever they need it. Because it is OEM agnostic, it works with a countrywide network of EV charging stations and independent charge station operators to onboard them into the ElectricPe platform, making it a one-of-a-kind offering in the industry. Consider Uber, but for electric vehicle charging!
“We are particularly excited about partnering with Avinash and Raghav on their journey to take India successfully into the new world of EVs, as the #1 reason for the lack of adoption of EVs in India is the lack of charging infrastructure. Unfortunately, it is also a catch-22 situation as charging infrastructure providers won’t invest unless they see demand, and consumers won’t buy vehicles until they see the infrastructure. ElectricPe is looking to disrupt the market by bridging this gap. In doing so, they will soon become the largest EV charging platform in India,” said Arpit Agarwal, Director, Blume Ventures.
“A hockey stick growth in the adoption of EVs in India can’t be achieved without affordable charging solutions that are ubiquitously available. Most vehicles are either parked at home or in offices for over 20 hours a day. These vehicles need low-cost charging solutions. We were fascinated by ElectricPe’s vision to address this shortcoming in the market. The duo brings in the right operational and technical expertise required to solve this issue at scale,” said Shreyas Shibulal, Founder & Director, Micelio Fund.
