November 27, 2022

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Revos EV startup raises $4 mn in Series A funding

Revos EV startup

Revos EV startup raises $4 mn in Series A funding

Revos a smart micro-mobility platform has raised funding of $4 million as part of its Series A round from venture capital firms, US-based Union Square Ventures and a Bengaluru-headquartered Prime Venture Partners. Read further to know more about Revos EV startup raising funds for electric vehicles. 

Revos EV startup

“We are thrilled to have the backing and trust of leading VC players in India and the US. They share our vision that the key to increased adoption of EV vehicles is making charging easier,” said Jyotiranjan Harichandan, cofounder, Revos.

Jyotiranjan, Cofounder, REVOS, said, “We want to do the same for the EV industry what the PCO box did for the telecom industry a few years ago. REVOS is not only creating the largest charging infrastructure to support EVs but also building a world-class OS to make EVs smart, safe, connected and ready for the future.”

The startup will use the fresh funds to deploy EV chargers across the country, and further strengthen its technology team. In the next 3 years, the company is planning to expand its charging network to million chargers in 500 cities across India to encourage and power millions of two and three-wheeler EVs.

Since 2019, its launch Revos has been deployed in 10,000 devices (EVs + chargers) in 30 OEMs across India, China, Vietnam, Nepal and Egypt. The company is planning to launch soon in Europe and other parts of SE Asia.

goEgoNetwork a Pune based startup had also raised $2 million in seed funding to expand its electric charging network. The seed round is funded by Bagla Group, Global Innovation Labs and Fintech at ING Bank. 

RACEnergy a Hyderabad based e-mobility start-up has announced that it has raised $1.3 million or ₹ 9.67 crores in funding in a Seed+ round led by Micelio Fund and growX ventures. The funds will be used for the battery swapping stations and swappable batteries manufacturing, R&D, fulfil the pre-orders received in Hyderabad and surrounding Tier-II cities. 

Also, read related article: List of electric vehicles companies seed funding

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