EV charging startup ElectricPe raises $5 million

Electric vehicle (EV) charging startup ElectricPe has raised $5 million, led by Green Frontier Capital, Blume Ventures, and Micelio Fund.

Dubai-based NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the funding round.

“The funding will be used to improve our technology and also expand to cities outside Bengaluru,” cofounder and CEO Avinash Sharma told ET.


Currently, ElectricPe is only available in Bengaluru.

Sharma said more than 80% of the city’s entire charging network is available on ElectricPe.

By the end of the current quarter, ElectricPe will cover the entire city. Users of all EV types - be it a two-wheeler, three-wheeler, four-wheeler, plug-in battery and swap battery - can use the ElectricPe app, Sharma added.

He said the company has around 20,000 active customers, which includes regular users and the gig economy workforce driving for food delivery and ecommerce companies, whose fleets are increasingly getting electrified, as ET reported on December 5.

The company makes money by charging a convenience fee from the customer, Sharma added.

“As e-mobility is gaining traction in India, ElectricPe has identified a primary challenge and is working to create easy and seamless access to a trusted network of charging points/swapping stations all in one space,” said Sandiip Bhammer, managing partner, Green Frontier Capital.

The company is founded by former Ola executives, including Sharma, Raghav Rohila and Krishnan Sekar, who are actively involved in various executive roles.

ElectricPe is a marketplace or an aggregator of electric chargers and gives customers a one-stop app for all their charging needs, Sharma said.

The ElectricPe can help customers not only in identifying the nearest charging station, but can in alerting and educating customers about when and how to charge their vehicles.

The company has also integrated payments - considered a pain point in the EV charging business - for charging.

“The EV sector is growing at a rapid pace and consumers are seeking full-stack solutions, in one place. Having a trusted dense network of charging or swapping points to find, use and pay will not only help increase adoption, but also utilisation of charging infrastructure,” said Arpit Agarwal, director, Blume Ventures.