Repos Energy Plans To Raise Funding Of Rs 300 Crore For Its Expansion Plans

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Repos Energy

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Repos Energy, an energy distribution company backed by Ratan Tata plans to raise Rs 300 crore to finance its expansion plans. In the next 5 years, the startup plans to have 20,000 fuel stations and 5,000 charging stations for mobile electric vehicles.

Aditi Bhosale Walunj, the co-founder of Repos Energy, stated that the company also targets a fivefold increase in its topline this financial year due to a recently launched fintech platform for fuel finance.

The company had a revenue of Rs. 63 crores in its last fiscal. Now, it is looking at Rs 300 crore revenue for the current financial year. The startup was founded by Aditi and Chetan Walunj in 2017. It has twice received funding from Tata Sons Chairman Emeritus Ratan Tata.

“We are currently looking into Series A funding over the next six months. Aditi Bhosale Walunj stated that the plan was to raise Rs 300 crore through this round of financing. According to her, the company was self-funded for four years and received pre-series funding from investors only in May.

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“We now look at green funds and impact funds as well as climate funds. This is what the entire world wants. She said that the only thing we need is to tap the right sources and people.

Recent pre-series A financing provided by Ratan Tata and other investors included Rs 56 crore of equity and debt.

She stated that the company is looking to build 100 EV charging stations by 2023 and 3,000 by FY26. She stated that the goal was to have 5,000 charging stations for mobile electric vehicles and 20,000 fuel stations within five years.

Repos Energy launched an organic mobile waste-powered-EV charging solution earlier this month as well as a fintech platform called ‘Repos Pay’ for fuel financing.

Repos Energy is currently present in 220 cities across the country, with more than 1,800 mobile fuel stations.

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