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India’s largest EV charging network today announced $5 million in Series A+ funding round led by new investors Version One Ventures and returning investors (USV and Prime Venture Partners) and the appointment of S. Announced the appointment of Raghav Bhardwaj. , With this investment, Bolt.Earth is on its way to achieving profitability. The fresh capital injection will be used to scale up operational capacity across India, develop fast-charging solutions for 2, 3 and 4 wheelers and deploy end-to-end EV charging solutions including hardware, software and maintenance for OEMs and apartments. Will be done for. Complexes, builders, enterprises and fleets.
Bolt.Earth is India’s largest, most used and fastest growing charging network. In terms of the number of public charging stations deployed in India, the company works with leading brands such as Bajaj, Mahindra, Ather, Piaggio, Siemens, SAP, American Express and Brigade Group. Bolt.Earth will leverage its latest funding with the development of next generation LEVDC fast chargers for 2 and 3 wheelers and DC ultra fast chargers up to 240kW for 4 wheelers, which are currently in production. These chargers, designed to provide fast top-up in a fraction of the time required by traditional AC chargers, will join Bolt.Earth’s product portfolio, covering all levels of charging.
By driving interoperability across different networks, the company plans to make its EV charging app a platform where users can seamlessly access and pay for charging services from any provider. This integration is already in motion through Bolt.Earth’s partnership with ChargeZone, which has added more than 350 fast chargers to its network. In the coming months, additional third-party integrations will position the Bolt.Earth app as a one-stop solution for all charging needs.
This transformational journey was led by S. Raghav Bhardwaj (previously COO of Bolt.Earth), who will succeed co-founder Jyotiranjan Harichandan in the role. Founders Jyotiranjan Harichandan and Mohit Yadav will play key roles as head of strategic partnerships and chief technology officer, respectively. This renewed focus and leadership change is poised to drive the company’s next phase of growth in the rapidly growing EV charging sector.
“This is a defining moment for Bolt.Earth and the Indian EV ecosystem. With the EV market expected to grow 40-50% in 2024 and strong government support, we are ready to deliver on our promise of providing the most reliable charging experience. As India’s only vertically integrated EV charging company, Bolt.Earth connects every link in the chain – from discoms/utility companies to EV users. This year, we are focusing on future-proofing our network with fast-charging solutions for 2, 3 and 4-wheelers.” said Raghav.
With over 12 years of experience in strategy and innovation, Raghav’s leadership is poised to guide Bolt.Earth into its next phase of growth. “As Raghav takes over the reins, his ability to combine visionary leadership with on-the-ground execution ensures Bolt.Earth’s continued impact on India’s EV landscape. And yes, this is a new chapter of growth for us.” said Mohit Yadav and Jyotiranjan Harichandan, Co-founders of Bolt.Earth.
Bolt.Earth is committed to driving innovation in EV charging and providing transformative solutions that shape the future and create lasting impact.
“Bolt.Earth represents the kind of transformative network that reshapes industries under pressure. Through seamless integration of the EV charging ecosystem, they are solving today’s infrastructure challenges while laying the foundation for a scalable, sustainable future in mobility. It’s a bold vision and we’re proud to be a part of it,, said Boris Wirtz, founder of Version One Ventures.
About bolt.earth
Bolt.Earth is India’s largest EV charging network with 1,600+ charging points across 36+ cities, serving 210K+ active EV users. Its extensive charging network supports 2, 3 and 4 wheelers with both standard and fast charging options. The Bolt.Earth app makes charging effortless with a simple scan-pay-charge process.
By providing impeccable customer service and comprehensive EV charging solutions, Bolt.Earth is a transformative force in electric mobility, driving significant change and innovation in the industry.
For more information, visit: https://bolt.earth/
About Version One Ventures
Version One Ventures, an early-stage VC firm behind category-defining companies like Coinbase, Outreach and Patch, continues to champion transformative startups shaping the future of SaaS, crypto/web3 and now climate tech in India, with Starting with Bolt.Earth. ,
About Union Square Ventures (USV)
Union Square Ventures (USV) is an American venture capital firm based in New York City. The firm has backed more than 130 startups, including Twitter, Etsy, Stripe, Zynga, Tumblr, Stack Overflow, MongoDB, and Coinbase.
About Prime Venture Partners
Prime Venture Partners is an early-stage venture capital firm empowering disruptive startups with high growth potential in India. Focusing on sectors like Fintech, SaaS, Healthcare and EV, Prime has backed category-defining companies like MyGate, Ezetap and Quizizz.
