Hyderabad-based Integrated charging Infratech firm EVRE has raised an undisclosed amount in a pre-series funding round from Acko Technology & Services and CreedCap Asia Advisors.
With this fundraise, the firm will use this fund to deployed in capacity expansion and R&D.
“The newly announced investment will significantly expand our base and contribute to building the national charging infrastructure. The funding will be used to boost manufacturing capacity, accelerate new offerings and development, and expand charging hubs into different geographies,” said Krishna K Jasti and Chandresh Sethia, Co-Founders of EVRE.
Founded in 2017, EVRE conceptualizes, designs, builds, installs, operates, and maintains EV charging infrastructure.
The company currently operates over 700 EV chargers across 50 charging hubs across 12 cities in the country.
EVRE said the investment comes at a time when the EV infrastructure segment is witnessing huge interest from the public and private sector to meet the rapid adoption of EVs in the domestic market.
Ruchi Deepak, Co-founder, Acko Technology and Services Private Ltd, said, ‘’Our investment in Amplify Cleantech Solutions, the parent company of EVRE, will help us address the critical need for EV charging infrastructure, making the EV experience easy for customers.”
The main focus of the company will be to meet the demand for electric vehicles in Tier-1 and Tier-2 cities. Among others, it will also address the issue of range anxiety as well.