ElectricPe, an Electric vehicle charging aggregator startup based out of Bengaluru has raised $3 million in a pre-Series A round led by Green Frontier Capital. Other investors that invested in this round are Blume Ventures, Micelio Fund, and NB Ventures among others.
ElectricPe’s Market Presence
ElectricPe, an electric vehicle charging aggregator startup based in Bengaluru, is currently only functional in Bengaluru. They have 5,000 charge points and they cover a considerable number of charge points across the city. The company has been targeting one market, Bengaluru until they are capable of solving the problem adequately in that market. They not only install charging infrastructure but also run their stores where they showcase and sell a variety of electric two-wheelers; They also offer EV financing, servicing, and even subscription plans.
The company ElectricPe targets to significantly increase the number of EV charging points to 100000 because of the growth in the number of users. They are also expanding their offerings by selling electric scooters from Ola Electric, Hero Electric, and Ather Electric from their new Mobility Centers. Hence, even though they are currently operating only in Bengaluru, their growth path suggests a more extensive market reach in the future.
ElectricPe’s Mission
ElectricPe’s mission is to make the transition to EV easier by providing people with all the necessary services in one place. ElectricPe’s app lets the user locate and distinguish between normal and fast EV charging points, along with paying for the same. This seamless experience helps in convincing more individuals to shift to electric cars. The startup runs stores that sell various types of electric two-wheelers. EVs are easily available and accessible for use and purchase by consumers. ElectricPe offers its users EV financing service solutions and service subscription plans.
Commitment of Green Frontier Capital
According to Sandiip Bhammer, the Managing Partner of Green Frontier Capital, their goal is to support innovative companies that create a sustainable future. ElectricPe’s approach covers all the bases, which is right in line with its investment strategy.
Sandiip Bhammer said, “Green Frontier Capital is committed to backing innovative companies that are shaping a sustainable future. ElectricPe’s comprehensive approach to addressing the challenges in EV adoption aligns perfectly with our investment thesis.”
Growth Strategy
ElectricPe was launched in 2021 by Avinash Sharma and Raghav Rohlia and, before this round, the start-up successfully closed a $5 million seed funding round in 2023. Combined with this recent pre-Series A funding, their overall funds raised $8 million. The startup aims to persistently identify the deficits in the EV sector, and create an all-in-one solution that serves as a one-stop-shop for customers in the EV industry. However, new strategies were also implemented to improve the user experience, such as the integration of ElectricPe with Google Maps and Google Search so that users can see the real-time status of charging points.
ElectricPe’s Plan for Expansion
ElectricPe, an Estonian-born EV charging network, plans to grow the number of points it offers by 100,000. This is because there are more users and the need for charging stations is felt to be even more crucial. ElectricPe is venturing into other complementary businesses by offering electric scooters from popular brands like Ola Electric, Hero Electric, and Ather. They are doing this through their new Mobility Centers to get a suitable solution for buyers of EVs. At ElectricPe, our mission is to help advance e-mobility by optimizing EV charging facilities and providing holistic services to customers.
Conclusion
ElectricPe’s funding from Green Frontier Capital adds to its mission of transforming the trends of EVs and changing the world for the better. Green Frontier Capital’s investment in ElectricPe is an important move to bring about the desired change in the usage of electric vehicles. Recently, ElectricPe was active in Bengaluru; its expansion strategy appears to have potential.
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