82Volt secures INR 5 cr funding from angel investors for EV charging solutions
New Delhi: 82Volt, an Electric Vehicle Charging Technology company specializing in energy conversion and storage, has successfully closed its seed funding round with angel investors, raising INR 5 crore.
The company offers a variety of AC and DC charging solutions, as well as software solutions, and plans to expand its team, geographical reach, and charger installation capacity by 200% by the next fiscal year.
Akshay Sasikumar, CEO, 82Volt Technologies said, “As a company driven by innovation and commitment towards creating a sustainable business model for clean transportation adoption, we aim to create solutions that can help deliver savings to not only customers but also businesses and grid owners. Our solutions are built keeping in mind the Indian grid conditions and provide automakers, EVSE suppliers, and commercial businesses to benefit from adopting clean transportation through a robust charging network. In line with this, we aim to create an end-to-end EV charging solution that includes fast and slow charging solutions, CMS, products, and Energy storage solutions.”
82Volt currently has 10 chargers installed and a contractual capacity of 550 chargers. These chargers have a variety of unique features that are linked to a customized software system.
82Volt chargers are sturdy, tech-enabled, and programmed to capture over 100 data points from every charging cycle, creating a smarter and more convenient experience, and are integrated with a plethora of associated services, such as home automation, e-commerce, and advertising platforms. The 82 Volt chargers also provide real-time data for each charging station.
With the new round of seed funding, the startup hopes to increase installation capacity to 100 in the next two months through channel partners, as well as expand its product growth, expand its team, and expand its reach, the company said.
“We are grateful to our investors for believing in our product and vision. Their support will help us achieve our goals and expand our operations. As we continue to strive to innovate, collaborate and grow to build a robust EV infrastructure, their ongoing trust and belief will help us in becoming key enablers for EV infrastructure in India, and cater to the growing demand and usage of EVs, across the globe,” he added.