Total amount raised
$12.2 Millions
Latest funding date
07/01/2024
Location
ElectricPe has successfully raised $3 million in a pre-series A round led by Green Frontier Capital, along with support from AcceliCITY powered by Leading Cities and Blume Ventures. The company is dedicated to providing smart, affordable, and clean electric mobility solutions.
Keep reading to explore the intricacies of ElectricPe's fundraising journey and the investors backing this innovative platform.
What Is ElectricPe?
ElectricPe, founded in May 2021, is an innovative platform dedicated to providing smart, affordable, and clean electric mobility solutions. Based in Bengaluru, Karnataka, India, the company operates under the legal name Wattapp Technologies Pvt. Ltd.
Co-founded by Avinash Sharma and Raghav Rohila, ElectricPe focuses on ensuring that EV users have access to a vast network of charging points. The company partners with independent charge point operators and offers services such as super-fast charging and EV accessories. With an employee count ranging between 51-100, ElectricPe is making significant strides in the EV industry.
How Much Funding Has ElectricPe Raised?
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: July 2024
- Lead Investors: AcceliCITY powered by Leading Cities, Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand ElectricPe's EV charging infrastructure and enhance its service offerings.
- Seed Round
- Amount Raised: $3M
- Date: July 2024
- Lead Investors: Green Frontier Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify ElectricPe's position as a comprehensive solution for EV users and expand to new geographic locations.
- Seed Round
- Amount Raised: $5M
- Date: January 2023
- Lead Investors: Blume Ventures, Green Frontier Capital, Micelio Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and grow the startup's initial operations and offerings.
- Debt Financing
- Amount Raised: ₹99M
- Date: September 2022
- Lead Investors: Micelio Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's operational and expansion needs.
- Seed Round
- Amount Raised: $3M
- Date: November 2021
- Lead Investors: Blume Ventures, Micelio Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and develop ElectricPe's EV charging platform.
Total Amount Raised: $11M
Current Valuation: Not publicly disclosed
Key Investors
- Green Frontier Capital
- Details: Green Frontier Capital is an early-stage venture capital fund focused on sustainable and innovative companies. They led the $3 million pre-Series A funding round for ElectricPe.
- Investment Focus Areas: Sustainable technologies, green technologies, innovative companies.
- Notable Investments: Not publicly disclosed.
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that invests in early-stage startups across various sectors. They have been a consistent investor in ElectricPe, participating in multiple funding rounds.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Micelio Fund
- Details: Micelio Fund focuses on investments in the electric vehicle ecosystem and related technologies. They have participated in several funding rounds for ElectricPe.
- Investment Focus Areas: Electric vehicles, related technologies.
- Notable Investments: Not publicly disclosed.
- NB Ventures
- Details: NB Ventures is a venture capital firm that invests in technology startups and innovative solutions. They have been involved in ElectricPe's funding rounds.
- Investment Focus Areas: Technology startups, innovative solutions.
- Notable Investments: Not publicly disclosed.
- AcceliCITY powered by Leading Cities
- Details: AcceliCITY powered by Leading Cities is an initiative that supports urban innovation and sustainability. They participated in a non-equity assistance funding round for ElectricPe.
- Investment Focus Areas: Urban innovation, sustainability.
- Notable Investments: Not publicly disclosed.
What's Next for ElectricPe?
ElectricPe is poised for significant growth, with opportunities to expand geographically and enhance its service offerings. The collaboration with Google to map EV charging stations in India is a game-changer, potentially increasing the visibility and accessibility of charging points. This partnership, combined with the recent $3 million funding round, positions ElectricPe to solidify its market presence and explore new regions.
Future fundraising appears promising, given the strong investor confidence demonstrated by the participation of Green Frontier Capital, Blume Ventures, and others. As ElectricPe scales, it may attract further investments to support its ambitious expansion plans and technological advancements. However, the company will need to navigate challenges such as competition from other EV-charging providers and regulatory hurdles in new markets.
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