India-based EV charging platform ElectricPe raises USD 3 million in Seed round

ElectricPe, a Bengaluru-based EV charging platform, has raised USD 3 million in a seed funding round co-led by Blume Ventures and Micelio Fund on 11 November 2021.

Investors: Blume Ventures and Micelio Fund co-led the latest funding round with participation from many prominent angel investors, including Anshuman Bapna (Terra.do), Mukul Rustagi (Classplus), Anupam Mittal (Shaadi.com), Ashish Goel (Urban Ladder), Bhuvan Gupta (Ofbusiness), Arjun Ravi Sheth (Partner at Anchorage Capital Partners), Jasminder Singh (NowFloats), Khadim Batti and Vara Kumar (Whatfix), Saurabh Aggarwal (Fitso), Murthy Aradhi (Whishworks), Nikheel Kamble and Pallav Singh (Numen), Ramakant Sharma (Livspace), Relentless VC, Soumitra Mishra (Claro Energy), Supermorpheus, and Tonmoy Shingal (Mettl), among others.

The Objectives behind the funding: The company will deploy the current proceeds to further develop its deep-tech platform to facilitate easy access to affordable charging points via its ElectricPe app.

About ElectricPe

Founded in 2021 by Avinash Sharma and Raghav Rohila, ElectricPe provides a B2C EV charging and demand generation application that provides EV users with a one-stop platform to access EV charging points, which also tracks real-time usage. The company helps users to discover charging points and identify the best pricing while facilitating charging in any station across the country.

What the Founder has to say:

Speaking about the new development, Avinash Sharma, Co-founder and 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 ecosystem approach by working with all industry stakeholders, thereby making adoption more seamless.”

What the Investors have to say: 

“We are particularly excited about partnering with Avinash and Raghav on their journey to take India successfully into the new world of EVs, as the #1 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,” stated Arpit Agarwal, Director, Blume Ventures. 

“A hockey stick growth in the adoption of EVs in India can’t be achieved without affordable charging solutions that are ubiquitously available. Most vehicles are either parked at home or in offices for more than 20 hours a day. These vehicles need low-cost charging solutions. We were fascinated by ElectricPe’s vision to address this shortcoming in the market. The duo brings in the right operational and technical expertise required to solve this issue at scale,” added Shreyas Shibulal, Founder and Director, Micelio Fund. 

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