EV Charging Platform ElectricPe Raises $3 Million Funding In A Seed Round

Electric vehicles (EV) start-up, ElectricPe, which offers an EV charging platform, has announced raising $3 million or over Rs. 26 crore in a seed round, led by Blume Ventures and Micelio Fund. The company says that the funds will be utilised to further develop its deep-tech platform to enable easy access to affordable charging points via the ElectricPe App. It is essentially a B2C EV charging and demand generation app that offers EV users a one-stop platform to access EV charging points. The app also tracks real-time usage, ensuring a trusted network wherever and whenever they need it.

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Commenting on the latest development, Avinash Sharma, Co-Founder & CEO, ElectricPe said, "Using our proprietary technology and platform approach, we aim to solve for 'trust', which an EV user requires when looking for charging services. With rising fuel prices and favourable Government incentives, the EV revolution has already begun, and our vision is to enable affordable and clean charging for all. We are taking an eco-system approach by working with all industry stakeholders, thereby making adoption more seamless."

ElectricPe is a B2C EV charging and demand generation app that offers EV users a one-stop platform to access EV charging points

ElectricPe was founded in May 2021 by Avinash Sharma and Raghav Rohila, who come with strong experience in the electric mobility space. The company says that because it is OEM agnostic, ElectricPe partners with a nationwide network of EV charging points and independent charge point operators and onboards them onto the ElectricPe platform, making it a unique proposition for the industry. The company says it's like an Uber, but for EV charging.

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Talking about the company, Arpit Agarwal, Director, Blume Ventures said, "The number one reason for the lack of adoption of EVs in India is the lack of charging infrastructure. Unfortunately, it is also a catch-22 situation as charging infrastructure providers won't invest unless they see demand, and consumers won't buy vehicles until they see the infrastructure. ElectricPe is looking to disrupt the market by bridging this gap. In doing so, they will soon become the largest EV charging platform in India."

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The company says that because it is OEM agnostic, ElectricPe partners with a nationwide network of EV charging points and independent charge point operators

Other investors who participated in round Anshuman Bapna (Terra.do), Anupam Mittal (Shaadi.com), Arjun Ravi Sheth (Partner at Anchorage Capital Partners), Ashish Goel (Urban Ladder), Bhuvan Gupta (OfBusiness), Jasminder Singh (Nowfloats), Khadim Batti & Vara Kumar (Whatfix), Mukul Rustagi (Classplus) and many others.