Bolt.Earth, a prominent Indian company specializing in EV infrastructure and software, is thrilled to declare the successful conclusion of its funding round, securing a significant investment of $20 million. This landmark funding endeavor was led by a consortium of both seasoned and fresh investors, boasting prominent participants such as Union Square Ventures, Prime Venture Partners, ITIGO Funds, and several others who align with Bolt.Earth’s vision for a sustainable and electrified transportation landscape.
Bolt.Earth plans to allocate the funds in several key areas to further advance its mission:
Charging Network Expansion: One of Bolt.Earth’s recent achievements is the successful deployment of over 30,000 EV charging points within its network. These charging options cater to a wide range of needs, offering both slow and fast charging with power outputs ranging from 3.3 kW to 240 kW.
Product Enhancement: The funding will play a pivotal role in improving Bolt.Earth’s already impressive product lineup. This includes expanding the range of slow and fast charging points, meeting the diverse requirements of their customer base, which includes Bolt.Earth Lite, Bolt.Earth Lite Connected, Bolt.Earth LEVAC, Bolt.Earth Level 2 & 3.
Operating System Deployment: Bolt.Earth’s operating system, known as Bolt.Earth OS, embodies a commitment to a smarter and more sustainable future. This system goes beyond technology by promising a greener future. For original equipment manufacturers (OEMs) and EV dealers seeking seamless upgrades, Bolt.Earth’s low-code integration platform enables EVs to become software-defined vehicles.
Talent Acquisition: To further drive innovation and growth, Bolt.Earth plans to recruit top-tier professionals across various disciplines, including technology, engineering, and product development.
International Expansion: The funding will support Bolt.Earth’s ambitious agenda to extend its presence beyond existing markets. Their goal is to accelerate the adoption of electric vehicles in Asia, Europe, South America, and Latin America, contributing to a more sustainable future for transportation.
“Bolt.Earth offers an Operating System, a connected platform technology helping OEMs to develop, operate, and monitor their charging network and vehicles. We are also continuously expanding our charging network at a rate of approximately 2,000 new charging points per month. Additionally, 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.”
said Mr. Jyotiranjan Harichandan, Co-founder, Bolt.Earth
Mr. Mohit Yadav, Co-founder, Bolt.Earth, further commented, “We are thrilled to have the backing of visionary investors who share our passion for transforming the EV ecosystem. 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.”