Indian EV charging technology startup RoadGrid has announced that it raised INR 120 million (about USD 1.3 million) in a pre-Series A funding round led by early-stage investor Venture Catalysts.
The round also attracted strategic and angel investors including Kamal Puri (Skyline Group of Companies), IPV, FAAD Network, Let’s Venture, Vrinda Goel (Pace Group), Haresh Patel (Arthanomics), and Maneesh Shrivastav of Alpha Value, RoadGrid said.
RoadGrid is developing patented universal EV chargers that work across vehicle types and use cases. It is also building a cloud-based software platform and a nationwide charging station network.
“India’s EV transition is at an inflection point, and charging infrastructure will be the backbone of this transformation,” said Dr Apoorva Ranjan Sharma, Founder & Managing Partner, Venture Catalysts, according to a report by Indian Startup News. “RoadGrid is building a rare combination of deep-tech hardware, scalable software, and on-ground execution capability. Their patented universal chargers and integrated platform address a real market gap across vehicle categories and use cases.”
RoadGrid operates through two business segments. One focuses on manufacturing and supplying off-board and fast DC chargers to EV original equipment manufacturers. The other involves setting up and operating public and commercial charging stations, according to a report by Entrepreneur India.
“This Pre-Series round is a strong vote of confidence in RoadGrid technology and execution,” said RoadGrid founder and CEO Deepesh Shrinath.
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