Green Frontier Capital Leads $3M Pre-Series A Round for ElectricPe

The funding will be used by ElectricPe for geographic expansion and to launch new products

Bangalore, July 30, 2024— Green Frontier Capital, India’s premier early-stage VC fund with operations in both India and the U.S., has led a $3M pre-series A Round for ElectricPe, India’s most trusted EV super-app. The round saw participation from all existing lead investors – Blume Ventures, Micelio Fund, and NB Ventures, and the funds will be strategically used to fuel ElectricPe’s growth and innovation initiatives.

This investment will help ElectricPe to solidify its position as a comprehensive solution for EV users and expand to new geographic locations. ElectricPe’s full-stack Super App allows users to identify, access and pay for EV charging points regardless of their charging type. In addition to the app, ElectricPe’s multi brand stores present prospective buyers with a wide range of E-2 wheelers to choose from while also offering users EV financing, servicing and subscription plans.

Sandiip Bhammer, Managing Partner of Green Frontier Capital, said, “Green Frontier Capital is committed to backing innovative companies that are shaping a sustainable future. ElectricPe’s comprehensive approach to addressing the challenges in EV adoption aligns perfectly with our investment thesis. In just a few years, ElectricPe has achieved strong user acceptance and trust. We have also witnessed significant growth on its platform and are on the path to profitability. We’re excited to support ElectricPe in their growth journey.”

Since its inception in 2021, the platform has been dedicated to simplifying EV ownership. In three years, it has achieved significant growth and garnered trust among its customers. ElectricPe operates 25,000+ public chargers, making it the largest network in India. The super app has experienced a 30% month-on-month growth rate and has facilitated over 28 million green kilometers for its regular users. The company has captured over 15% of the market share of all personal EV 2-wheeler sales in Bangalore in under 8 months. As India’s only full-stack EV Super App, ElectricPe is uniquely positioned to address the fragmented nature of the present EV ecosystem.

Avinash Sharma, Co-Founder and CEO of ElectricPe said, “Our goal is to drive EV adoption by consolidating everything in one place—charging, EV buying, and servicing. We have always believed in stage-by-stage funding, and this $3 million investment marks the closure of our pre-series A round at $8 million, which began last year with $5 million. ElectricPe will continue to address the gaps in the sector and build ‘the defacto’ single platform to cater to all EV needs for our customers.”

ElectricPe was chosen as one of the core partners to Bring EV Charging Stations to Google in India. This collaboration will allow Google users across India to view the availability and status of charging points in real-time. This feature is a world-first for two-wheelers and will be live on both Google Maps and Google Search and will be expanded to other regions.