Bolt.Earth, a prominent Indian electric vehicle (EV) infrastructure and software company, has successfully concluded a funding round, raising a substantial $20 million in investment. The funding initiative was led by a consortium of investors, which included both long-standing and new partners. Notable contributors to this round include Union Square Ventures, Prime Venture Partners, ITIGO Funds, and several others who share Bolt.Earth’s vision for a sustainable and electrified transportation ecosystem.
The utilization of these funds by Bolt.Earth will encompass several key areas Charging Network Expansion:
Bolt.Earth has recently achieved a significant milestone by deploying over 30,000 EV charging points within its network. The company offers a diverse range of charging solutions, including slow and fast charging options with power outputs ranging from 3.3 kW to 240 kW.
Product Enhancement: The investment will play a pivotal role in advancing Bolt.Earth’s product portfolio. This includes the development of a balanced mix of slow and fast charging points, catering to a diverse customer base, including Bolt.Earth Lite, Bolt.Earth Lite Connected, Bolt.Earth LEVAC, Bolt.Earth Level 2 & 3.
Operating System Deployment: Bolt.Earth’s operating system, Bolt.Earth OS, represents a commitment to a smarter and more sustainable future. It goes beyond technology to promote environmentally friendly solutions. The company’s low-code integration platform enables EVs to become software-defined vehicles, providing seamless upgrades for OEMs and EV dealers.
Talent Acquisition: Bolt.Earth plans to onboard top-tier professionals across various disciplines, including technology, engineering, and product development.
International Expansion: The funding will support Bolt.Earth’s ambitious expansion plans beyond its current markets. The company aims to drive the adoption of electric vehicles across Asia, Europe, South America, and Latin America.
Mr. Jyotiranjan Harichandan, Co-founder of Bolt.Earth, highlighted the company’s achievements, stating, “We currently hold more than 50% market share in India’s EV charging network and play a dominant role in India’s EV Operating System nexus with our deployed chargers and software-defined vehicles.”
Mr. Mohit Yadav, Co-founder of Bolt.Earth, expressed excitement about the support from visionary investors, stating, “The current $20 million fund-raise is a part of the company’s plan to further its reach to every nook and corner of the country and to begin the era of ‘Make in India’ EV charging infrastructure products in the global market.”
Bolt.Earth provides charging solutions for individuals, businesses, real estate companies, fleet operators, and government entities. The company is at the forefront of promoting sustainable and eco-friendly transportation solutions.
