EVRE raises 'Pre-series A' funding round led by ACKO Technology and Services Pvt. Ltd. and CreedCap Asia
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VRE, India's leading integrated charging infratech company today announced that it has raised investment in a pre-series funding round led by ACKO Technology and Services Pvt Ltd and CreedCap Asia Advisors, an advisory and investment management firm. This investment comes at a time when the EV infrastructure segment is witnessing immense interest from the public and private sector to supplement the fast-growing EV adoption.
With technology at its core, EVRE conceptualizes, designs, manufactures, establishes, operates and maintains EV charging infrastructure. It operates over 700 EV chargers across over 50 EV charging hubs in 12 cities in the country. With an aim to satiate the increasing demand for EV charging infrastructure, EVRE is aggressively ramping up production and expanding its bouquet of products and services to democratize access to EV charging stations across the country, contributing to the 'Make-in-India initiative'. Apart from the EV charging hubs, EVRE is enabling leading realty players with EV readiness to develop the country's largest residential and commercial EV-ready townships.
EVRE is continuously investing in the research and development of technologically-advanced products to enhance consumer experience. With its cloud-based, the EV charging stations are capable of dynamic load management, unified dashboard through EVRE app among others. Providing seamless experience to its EV fleet operations, the company offers telematics for real-time monitoring, smart keys management, automated systems for security and safety of the EVs.
Speaking at the occasion, Ruchi Deepak, Co-founder ACKO, said, "Electric Vehicles are no longer the thing of the future. The world is shifting towards sustainable forms of energy, and EVs are making their way into the mainstream. We firmly believe that a robust EV charging infrastructure is fundamental to increasing the large-scale adoption of electric vehicles in the country. Our investment in Amplify Cleantech Solutions, the parent company of EVRE, will help us address the critical need for EV charging infrastructure, making the EV experience easy for customers. We are confident that EVRE, backed by its technology and expertise in design, manufacturing, and operating charging stations, is well-positioned to emerge as a leading player in the EV infrastructure space."
Commenting on the announcement, Krishna K Jasti and Chandresh Sethia, Co-founders at EVRE said, "The newly announced investment will significantly expand our base and contribute to building the national charging infrastructure. The funding will be used to boost manufacturing capacity, accelerate new offerings and development, and expand charging hubs into different geographies. Our main focus will be to power the EV demand of Tier-I and Tier-II cities EV Fleets and also address the range anxiety issue as well. EVRE is working towards building EV-enabled communities and plans to associate with top EV fleet owners and realty firms to the provide them with an efficient and technology-driven charging ecosystem for a frictionless EV experience."
ACKO Technology and Services Private Limited ("Acko'') is the parent company of ACKO General Insurance. ACKO, founded in 2016 is a digital-first direct-to-consumer company that builds and operates technology and services platforms. Driven by a relentless focus on superlative customer experience and with its transformative technology, ACKO helps create superior customer value propositions and more engaging experiences.
CreedCap is an integrated investment and advisory firm that works with Entrepreneurs in the consumer, software, Healthtech and transportation segment. Some of its investments include Bounce, Jiffy.ai, Nium, HattiKaapi, EQL Fintech, DrinkPrime, VRO Hospitality among others, founded in 2010, that provides start-ups and SME's with financial advisory services such as Capital Syndication, Business Restructuring and Strategic Advisory with a focus on Healthcare, Consumer, Information Technology, Real Estate and Industrial related businesses.
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EVRE is India's leading integrated charging infratech company that follows EAAS (Energy-as-a-Service) model, offering public and fleet charging infrastructure in over 12 cities. At present, the company operates over 700 charging stations in these cities with over 50 hubs while continuously expanding its operations with the country's leading EV players like EDEL by Mahindra Logistics, Zyngo, LetsTransport, MoEVing, 3ECO, Meru and amongst others to support their fleets with countrywide EV charging infrastructure. The company also has been granted patent for ComputerVision Technology for vehicle number plate recognition and parking space reservation. EVRE is investing in development and operations to enhance the experience of EV users with its world-class smart hardware in order to establish a robust charging infrastructure across the country. The fastest growing infratech has also partnered with Hiranandani, Mahindra Lifespace Developer and other RWAs/societies to mobilize the initiative of creating India's largest EV-enabled residential and commercial townships at pan-India level.
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✔️ EVRE raises 'Pre-series A' funding round led by ACKO Technology and Services Pvt. Ltd. and CreedCap Asia
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