New Delhi: Bengaluru-based AI-enabled energy management platform Ionage has raised $1.3 million in a pre-Series A funding round as it looks to strengthen India’s growing EV charging ecosystem. The round was co-led by strategic investors and a consortium of CXOs from energy and infrastructure companies.
The fresh funding will be used to expand Ionage’s coverage to 100% of active EV charging networks in India, improve charger discovery and payment experiences for electric vehicle users, and help small and mid-sized charge point operators (CPOs) establish and manage charging stations more efficiently.
Ionage Building a Connected EV Charging Network
Founded in 2021 by Vimal Kumar V and Varun Chandran, Ionage is developing an EV charging operating system designed to connect charge point operators, charger manufacturers, real estate owners and EV users on a common platform.
For EV owners, the platform enables users to discover charging stations, access chargers and make payments across different charging networks. This interoperability is aimed at addressing one of the major challenges facing India’s electric mobility sector: the fragmented nature of EV charging infrastructure.
Ionage currently has more than 25,000 four-wheeler charge points onboarded and supports over 63 fleets across the country. The startup also works with more than 75 charging partners, using charger mapping and roaming capabilities to connect infrastructure across multiple networks.
Startup Targets 20 Million Units of Monthly Energy Throughput
Ionage said it is targeting more than 20 million units of energy processed per month over the next 12 months. The company is currently recording monthly growth of more than 25%, highlighting the increasing demand for software and technology solutions that can manage India’s expanding EV charging infrastructure.
The startup currently operates across 33 states and Union Territories and nearly 3,000 cities. It also operates across more than 70% of India’s charging hardware and connects with major EV charging manufacturers at the installation stage.
Its solutions are designed for a wide range of locations, including offices, shopping malls, hospitality businesses and residential housing societies. Ionage also plans to create and support CPO micro-clusters in Tier 2 cities over the next 18 months.
AI and Interoperability at the Centre of Expansion
Ionage’s product portfolio includes Nexus, its charge point operator management platform; the IONAGE App, which enables charger discovery, planning, charging and payments; Flo, a CPO-fleet marketplace; and CASA, a home charging management solution.
The company also has a Discovery API and business SDK in closed beta. Alongside its core platform, Ionage has started deploying artificial intelligence and machine learning capabilities for intelligent load balancing and energy trading across its charging network.
India Needs Major Expansion in EV Charging
The funding comes as India’s EV market continues to expand and the country prepares for a much larger charging infrastructure requirement. Research cited by Ionage from CII and ORF estimates that India’s EV charging infrastructure will need to grow more than 40 times by 2030.
The country could require more than 1.32 million public chargers by 2030 to support an expected 30 million-plus electric two-wheelers and four-wheelers on Indian roads. With its latest funding, Ionage is positioning its technology as an interoperability layer between charging networks, operators and EV users. Its planned expansion could help make EV charging more accessible, discoverable and easier to use as electric mobility adoption grows across both major cities and emerging Tier 2 markets.
