Madhya Pradesh-based RoadGrid has raised ₹12 crore in a pre-Series A round from Inflection Point Ventures and other investors to create an accessible EV charging ecosystem. In a press release, RoadGrid said it saw participation from angel investors, including Venture Catalysts, Kamal Puri of Skyline Group, FAAD Network, LetsVenture, Pace Group’s Vrinda Goyal, Haresh Patel of Arthanomics, and Maneesh Shrivastav of Alpha Value.
RoadGrid operates across two segments. The first is the manufacturing and sale of EV chargers to original equipment manufacturers, addressing the requirement for both offboard and fast DC charging for two-wheelers, three-wheelers, and four-wheelers. The second is operating public and commercial charging stations, a market said to require nearly 30 lakh charging stations by 2030, compared to about 8,000 currently installed nationwide.
The company’s business model combines Charging as a Service with direct OEM sales. RoadGrid is establishing and operating charging stations with active deployments in Indore, Noida, and IOCL locations, alongside strong order books with utilities such as BSES, NPCL, and Navi Mumbai Transport. It has a confirmed pipeline exceeding 1,000 chargers.
In parallel, RoadGrid supplies chargers directly to EV OEMs and has partnered with VinFast arm V-Green to develop an EV charging network at HPCL retail outlets. As a technology partner, RoadGrid is also supporting the EV charging network for VinFast’s aftersales operations in India.
Expanding EV Network
The Charging as a Service (CaaS), under which it establishes and undertakes O&M of EV charging stations, with orders currently under execution. This includes deployments in Indore (76 chargers) and Navi Mumbai (250 chargers). These executions, along with active engagements with utilities such as BSES and NPCL, have resulted in a confirmed order book and pipeline exceeding 1,000 chargers.
The EV charging market opportunity spans two segments. The first is the manufacturing and sale of chargers as an OEM, driven by the expectation that India will have 80-100 million (8-10 crore) EVs by 2030 to meet the government target of 30% private vehicle penetration. This will require large volumes of charging equipment, both integrated with vehicles and as external charging solutions.
The second segment is operating charging stations, which represents a significant opportunity given the requirement of approximately 30 lakh charging stations by 2030, compared to the current base of around 8,000 stations in India.
The firm claims that the EV charging market is currently estimated at ₹5,000 crore and is projected to grow to ₹50,000 crore over the next six years. In parallel, the company undertakes direct OEM sales of EV chargers across 2W, 3W, and 4W segments, supported by an additional 1,000+ chargers under order.
To date, the Roadgrid has executed 100+ installations across MP, Rajasthan, and Karnataka for marquee clients including IOCL, Amazon, BSES, and NPCL, with deployments spanning cities such as Lucknow, Hyderabad, and Bangalore.
Leadership View
The founding team brings experience across EV infrastructure, engineering, and operations. Deepesh Shrinath (Founder & CEO) has 10+ years of experience with engineering and MBA background and prior roles at Emerson and Eaton.
Shashank Narayan (CTO) has 10+ years of experience in EV charging and renewable energy, with prior roles at Delta Electronics and HARTING, and is the author of an EV charger handbook published by NITI Aayog. Chandraprakash Akotkar (COO) brings 12+ years of experience across electrical design and infrastructure projects, while Bharat Joshi (CMO) has 30+ years of experience in advertising infrastructure and has represented India internationally in sports.
