Bolt.Earth raises $20 million to fund the electric vehicle ecosystem – LeLé

Class in: Environment, science and technology
Subjects: Photo/multimedia, financing

Bolt.Earth, India’s leading electric vehicle infrastructure and software company, is pleased to announce the success of its funding round, securing a significant amount of $20 million. This extraordinary funding round was led by a consortium of historic and new investors, including well-known names such as Union Square Ventures, Prime Venture Partners, ITIGO Funds and others, all of whom support Bolt.Earth’s vision of a sustainable and electrified transportation ecosystem.

Bolt.Earth will use these funds as follows:

1. Expansion of the charging network: Bolt.Earth recently reached the milestone of more than 30,000 electric vehicle charging stations in its charging network. The company covers a wide range of charging needs by offering options from slow charging to fast charging with output powers from 3.3 kW to 240 kW.

2. Development of the product portfolio: The funds received will contribute to the development of the company’s portfolio of excellent products through a balanced combination of slow and fast charging points targeting a diverse customer base, namely Bolt.Earth Lite, Bolt.Earth Lite Connected, Bolt.Earth LEVAC, Bolt. Earth levels 2 and 3.

3. Operating system deployment: Bolt.Earth OS reflects the company’s commitment to a smarter and safer future, going beyond technology to enable a greener future. Our low-code integration platform enables EV manufacturers and dealers looking for seamless upgrades to define EVs in software.

4. Talent Acquisition: Bolt.Earth is committed to recruiting highly qualified professionals across a wide range of disciplines, including technology, engineering and product.

5. International Expansion: The funding secured will strengthen Bolt.Earth’s ambitious program to expand its presence beyond existing markets and drive electric vehicle adoption in Asia, Europe, South America and Latin America.

Bolt.Earth provides an operating system and connected technology platform that helps manufacturers develop, operate and monitor their charging network and vehicles. In addition, we are continually expanding our charging network, at a rate of around 2,000 new charging stations per month. Additionally, we currently have over 50% market share in India’s EV charging network and play a leading role in connecting India’s EV operating system, our deployed chargers and vehicles. defined by software.

– Mr. Jyotiranjan Harichandan, Co-founder of Bolt.Earth

Mr. Mohit Yadav, Co-founder of Bolt.Earth, added: We are pleased to benefit from the support of visionary investors who share our passion for transforming the electric vehicle ecosystem. This $20 million fundraising is part of the company’s strategy to expand its presence in every corner of the country and usher in the era of made-in-India electric vehicle charging infrastructure products in the global market.

About Bolt.Earth

Bolt.Earth offers charging solutions for private individuals, companies, real estate companies, fleet operators and authorities.

For more information about Bolt.Earth, visit the Bolt.Earth website.

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Press release sent on October 5, 2023 11:10 a.m. and distributed by: