TL;DR
Indian EV charging firm Roadgrid raises US$1.3 million in Pre-Series A funding to scale its charging network nationwide.
Roadgrid, an India-based firm specializing in electric vehicle (EV) charging infrastructure, has successfully raised US$1.3 million (12 Crore) in Pre-Series A funding. This investment is earmarked for significantly scaling the company's EV charging network across India, where Roadgrid is involved in manufacturing, installing, and operating charging stations.
The funding round was led by Venture Catalysts, with notable participation from other investors. Roadgrid emphasizes that a universal and reliable charging infrastructure is crucial for India's EV transition. The company plans to utilize the fresh capital to expand its patented charging technology across various vehicle categories, grow its public and commercial networks, and strengthen its technology platform to meet the increasing demand for EVs in India.
