RoadGrid raises Rs 12 Cr in pre-Series A round led by Venture Catalysts

RoadGrid, a technology company building next generation electric vehicle charging infrastructure, has raised Rs 12 crore ($1.33 million) in pre-Series A funding round led by Venture Catalysts.

The round also saw participation from a strong group of strategic and angel investors, including Kamal Puri of Skyline Group, IPV, FAAD Network, LetsVenture, Pace Group’s Vrinda Goyal, Haresh Patel of Arthanomics, and Maneesh Shrivastav of Alpha Value.

The funds will be used to increase manufacturing capacity, expand software integrations, and speed up the nationwide rollout of charging stations.

Read also- Apax Partners picks up minority stake in iD Fresh Food, early backers part exit

Dr. Apoorva Ranjan Sharma, Founder & Managing Partner, Venture Catalysts, said, “India’s EV transition is at an inflection point, and charging infrastructure will be the backbone of this transformation. 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. We are excited to lead this round and partner with the team as they scale a future-ready EV charging ecosystem for india.”

Founder and CEO Deepesh Shrinath said, “This round is a strong vote of confidence in RoadGrid technology and execution. With our VC partners, we will be scaling universal EV charging infrastructure that can become foundational to India’s EV ecosystem.”

RoadGrid is developing patented universal EV chargers that can be used for two-wheelers, three-wheelers, and four-wheelers. Along with the hardware, the company is also building a cloud-based software platform to manage charging operations and improve the user experience.

Advertisment

The company works in two areas. The first is manufacturing and supplying chargers to EV makers, including off-board and fast DC chargers. The second is setting up and running public and commercial charging stations.

RoadGrid already has chargers installed in places like Indore, Noida, and at IOCL locations, and says it has a confirmed pipeline of over 1,000 chargers. It also supplies chargers to EV manufacturers and fleet operators, supporting companies such as Euler Motors and VinFast’s India network.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving success.

Advertisment