goEgoNetwork Raises USD 8 Million Equity Funding

A file photo of goEgoNetwork's EV charging point

goEgoNetwork, an EV charging infrastructure solutions startup, has raised Series A equity funding in the amount of USD 8 million. goEgoNetwork’s vision of creating a strong EV charging network will see the company use the equity funding to develop and install the Fast DC Charging Station product. The startup will be able to play a major role in six of the most important Indian cities.

“The EV industry is growing exponentially and the funding gives us growth capital to pursue the big plan of having the EV charging infrastructure in place for the people who are not buying because of range anxiety. It helps us in consolidating our position of being the preferred network for EV users by having charging stations which are having 100 per cent uptime and to ensure that you #staychargedup,” says Sayantan Chakraborti, Managing Director & Co-Founder, goEgoNetwork.

Dheeman Kadam, Co-Founder of goEgoNetwork said, “The funding is a big boost to India’s EV ecosystem. It is a step close to goEgoNetwork’s ambitious goal of having set up a hundred thousand Made in India charging stations by 2027. Out of the 9 million electric vehicles supposed to be on roads by 2027-28, we want to see a million EV owners as members of the goEgoNetwork,”

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Pravin Kumar, Co-founder, goEgoNetwork, said, “The funding accelerates our pace in achieving the numbers of our business plan and execute our vision of enabling two million EV users to charge seamlessly across our network.”

The funding will allow for a short-term target reach of 8,500 charging stations in India, with 15,000 members paying.

goEgoNetwork previously raised $ 2 million in a seed round to expand its electric charging network and capitalize on the growing green consciousness across the country.

goEgo already offered a range of AC and DC charging stations, starting at 1.1kW AC and increasing to 60kW DC. goEgo currently has over 1,000 charging points in 55+ cities across 15 states.

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