RoadGrid Secures Funding for EV Charging Infrastructure

EV charging infrastructure startup RoadGrid has successfully secured Rs 12 crore ($1.33 million) in a pre-Series A funding round led by Venture Catalysts. This funding round saw contributions from a variety of strategic and angel investors. Notable backers included Kamal Puri from Skyline Group, IPV, FAAD Network, LetsVenture, Vrinda Goyal from Pace Group, Haresh Patel from Arthanomics, and Maneesh Shrivastav from Alpha Value.

Utilising Funds to Expand Operations

The funds raised will be utilised to enhance manufacturing capabilities, broaden software integrations, and expedite the nationwide deployment of EV charging stations. RoadGrid is currently in the process of developing patented universal EV chargers that cater to multiple vehicle classes, including two-wheelers, three-wheelers, and four-wheelers. Furthermore, the startup is designing a cloud-based software platform aimed at streamlining charging operations and enriching the user experience.

Operational Segments of RoadGrid

RoadGrid operates in two primary segments. The first segment is dedicated to the manufacturing and supply of chargers to electric vehicle Original Equipment Manufacturers (OEMs), focusing on off-board and rapid DC charging solutions. The second segment involves establishing and managing public and commercial charging stations.

The company has ongoing deployments in various locales, including Indore, Noida, and IOCL sites. RoadGrid asserts a confirmed pipeline of over 1,000 chargers and supplies its products to electric vehicle manufacturers and fleet operators. This support extends to companies such as Euler Motors and the India network of VinFast.