RoadGrid, an EV charging infrastructure startup, has raised Rs 12 crore ($1.33 million) in a pre-Series A funding round led by Venture Catalysts, with a combination of angel and strategic investors participating.
Additionally, Kamal Puri (Skyline Group), IPV, FAAD Network, LetsVenture, Vrinda Goyal (Pace Group), Haresh Patel (Arthanomics), and Maneesh Shrivastav (Alpha Value) supported the round.
The money raised will be used to accelerate the rollout of charging stations across the country, increase software integrations, and scale manufacturing.
RoadGrid is developing patented universal EV chargers that are compatible with two-wheelers, three-wheelers, and four-wheelers. To manage charging operations and enhance the end-user experience, the company is creating a cloud-based software platform in addition to hardware.
RoadGrid is divided into two segments. The first focuses on producing and supplying chargers for off-board and fast DC charging requirements to EV OEMs. Establishing and running commercial and public charging stations is the second.
The company claims to have a confirmed pipeline of more than 1,000 chargers and has active deployments in places like Indore, Noida, and IOCL sites. Additionally, it provides chargers to fleet managers and EV manufacturers; deployments assist businesses like VinFast’s India network and Euler Motors.
