Based in Bangalore, Karnataka, Revos is a Smart Mobility Platform for Next-Gen Vehicles. The startup received a fundraised of US$ 4 million in a Series A funding round held on September 1 2021, co-led by Union Square Ventures and Prime Venture Partners.
Fund Utilisation
The five-year-old startup will use the latest capital acquired to strengthen its tech team. Also, the startup plans to expand its EV charging network to one million chargers across 500 cities in India and other emerging markets with a mission to power several million two- and three-wheeler EVs in the following years. It will also increase its workforce within the next few months.
What the Founder has to say
Co-founder of Revos, Jyotiranjan Harichandan, said, “By making it simple and ubiquitous, we want to do for the EV industry what the PCO box did for the telecom industry a few years ago. Revos is not only creating the largest charging infrastructure to support EVs but also building a world-class OS to make EVs smart, safe, connected and ready for the future.”
What the Investors have to say
Managing Partner of Prime Ventures, Sanjay Swamy, said, “EV is at the cusp of the early-adopter phase in India – and we all know that the real opportunity will be in electric two-wheelers. As with our experience with mobile recharge and digital payments, these are two-sided problems wherein vehicles justify the presence of charging stations and, conversely, charging stations justify buying vehicles. We’re starting to see many government subsidies and push from OEM’s to manufacture vehicles – hence, feel we are at the start of something big.”
Managing Partner at Union Square Ventures, Albert Wenger, said in the statement, “Globally, we are at the beginning of a massive transition to EVs. It is crucial for rapidly growing economies such as India, China and Africa to dramatically accelerate EV adoption. Two enabling technologies are required: an operating system (OS) and a charging network to make this possible. We are excited to announce our investment in REVOS, which already has multiple OEMs licensing their OS, and their BOLT charging network is expanding rapidly. REVOS marks USV’s first investment in India, and we are thrilled to partner with Prime Venture Partners in this new journey.”
About Revos
Founded in 2017 by Jyotiranjan Harichandan and Mohit Yadav, Revos is a Smart Mobility Platform for Next-Gen Vehicles. The company currently operates in India, rendering remarkable benefits like industry benchmarking, business efficiency, remote diagnostics and recharge on the go. For more information, visit https://www.revos.in/.
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