Bolt.Earth Secures $20 Million Funding To Expand EV Charging Network And Software

0
22

Bolt.Earth, India’s prominent EV infrastructure and software company, is pleased to announce the successful conclusion of its funding round, securing a significant $20 million in investment. This milestone funding round was led by a consortium of both longstanding and new investors, including notable names like Union Square Ventures, Prime Venture Partners, ITIGO Funds, and others who share Bolt.Earth’s vision for a sustainable and electrified transportation ecosystem.

Bolt.Earth has recently achieved a remarkable milestone by deploying over 30,000 EV charging points within its network. The company offers a wide range of charging options, from slow to fast charging, with power outputs from 3.3 kW to 240 kW.

The funding will be used to enhance the company’s diverse product portfolio, encompassing both slow and fast charging points to cater to various customer needs, including Bolt.Earth Lite, Bolt.Earth LEVAC, Bolt.Earth Lite Connected, Bolt.Earth Level 2 & 3.

Bolt.Earth OS represents a commitment to a greener future, allowing OEMs and EV dealers to seamlessly upgrade their vehicles using a low-code integration platform, transforming EVs into software-defined vehicles.

ALSO READ  Tata Power and Kanpur Municipal Corporation Join Forces to Advance E-Mobility in Kanpur

Bolt.Earth plans to recruit top-tier professionals across various fields, including technology, engineering, and product development.

The funding will support Bolt.Earth’s ambitious goal of expand its presence beyond existing markets, promoting the adoption of electric vehicles in Asia, Europe, South America, and Latin America.

“Bolt.Earth provides an Operating System and a connected platform technology that assists OEMs in developing, operating, and monitoring their charging networks and vehicles. We are rapidly expanding our charging network, adding approximately 2,000 new charging points each month. Furthermore, we currently hold more than 50% market share in India’s EV charging network and play a pivotal role in India‚Äôs EV Operating System ecosystem with our deployed chargers and software-defined vehicles.”

Mr. Mohit Yadav, Co-founder, Bolt.Earth, added, “We are thrilled to have the support of visionary investors who share our commitment to transforming the EV ecosystem. The current $20 million fundraising is part of our company’s plan to extend its reach to every corner of the country and to kickstart the era of ‘Make in India’ electric vehicle charging infrastructure products across the global market.”

ALSO READ  Battery Smart Raises Rs 272 Crore In Funding Round; To Expand Battery Swapping Network

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.