EV charging startup RoadGrid raises Rs 13 Cr from Technology Development Board
The Department of Science and Technology’s Technology Development Board (TDB) has awarded EV charging technology firm RoadGrid Rs 13 crore in funding for a Rs 27.5 crore manufacturing project.
The money will be used by the company to build a production and assembly plant for its proprietary Universal EV Charger.
Commercial manufacturing is anticipated to start in March 2027, and the facility will have an annual capacity of 2,000 chargers.
RoadGrid was established in 2020 and creates energy management, software, and hardware for EV charging. Electric two-wheelers, three-wheelers, passenger cars, and commercial EVs are all supported by its Universal EV Charger on a single platform.
According to the company, power electronics, thermal management systems, communication modules, control hardware, and metering systems will be manufactured and assembled at its facilities. More than 100 employments are anticipated to be created by the project, which will incorporate locally produced components.
Currently, RoadGrid has over 40 employees, over 200 charging stations, and more than 100 EV chargers. It collaborates with businesses like VinFast, HPCL, and IOCL and works with six enterprise clients.
In a pre-Series A funding round headed by Venture Catalysts earlier this year, RoadGrid collected Rs 12 crore to finance product development, manufacturing, and the installation of charging infrastructure.
At a starting production level of 1,000 chargers, the business anticipates that the new factory will bring in about Rs 100 crore annually.
