The company had recently bagged the contract for installing and operating 100 EV charging stations in Delhi
Bullish on the demand for EV charging infrastructure in housing societies and government agencies, EV charging startup ElectiVa is looking to raise USD 30 million to expand its business operations.
“We believe it is the right time to raise fund and expand aggressively to be the market leader. We have already bagged some contracts and are in talks with multiple housing societies, government utilities, malls and educational institutes across all the major metro cities to install charging stations. The fund will help us in expansion,” said Sumit Dhanuka, founder of ElectriVa.
The company had recently bagged the contract for installing and operating 100 EV charging stations in Delhi. The contract awarded by the local urban bodies in Delhi includes key locations such as South Ex, Lajpat Nagar, RK Puram, Dhaulakuan, Vasant Vihar among other major commercial areas on the ring road that crosses South Delhi.
ElectriVa was reccently setup by New Delhi based entrepreneur Sumit Dhanuka who has a background in renewable energy.
The company will be focusing on the core revenue aspect which is the charging fee. However, it will also be exploring several non core revenue streams-given the availability of key locations.
“ElectriVa aims to be a leader with over 25% market share in the EV charging market,” Dhanuka said.
The company currently has 35 operational charging sites and has a target to install over 3000 charging points in FY 22-23.
