EV tech startup Electrifuel raises RS 1.8 Cr in funding from Indian Angel Network
Electrifuel, an Electric vehicle (EV) technology startup, has raised Rs 1.8 crore in funding from the Indian Angel Network (IAN), led by lead investors Vishnuraj Kunjur, Sahil Kejriwal, and Pradeep Gupta.
The business stated that it will utilise the capital to boost production by expanding its staff and hiring for several positions as well as investing in R&D. (R&D).
Co-founder of Electrifuel, Ujjwal Bhardwaj said, “While we have been a bootstrapped company since our inception, with IAN backing us now, we will scale up at a much faster pace and grow our team. We are looking to speed up the development of new products, acquire more clients, and expand our overall footprint.”
Vishnuraj Kunjur, lead investor at IAN said, “Electrifuel has developed proprietary, indigenous battery management (BMS), telematics hardware, and EV operating system through its SaaS model. Their equipment and software model are proven considering the number of units implemented by leading manufacturers such as Greenfuel, Indigrid, Waaree, and Hyperex, among others. We are excited to be part of Electrifuel’s journey, growth, and mission.”
Founded in 2017 by Sumesh Kumar, Sunil Kumar, Abhishek Kumar, and Ujjwal Bhardwaj, Gurgaon-based Electrifuel supports IEV and battery manufacturers in providing products with exact geolocation and cellular connectivity, quick and efficient charging, battery swapping, warranty administration, and service management.
Electrifuel Private Limited seems to be a captivating startup with inspiring new development on motor vehicle manufacturing platform. All the best to the whole group. This will give them an enormous achievement in the future.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For Editorial/Rectification please email email@example.com