- The company plans to use the funding to expand its team and for the development of new and faster type of EV chargers
- At present, the company has a network of over 200 EV chargers installed in 16 cities
Tessellate Tech Ventures, the investing arm of automotive electronics component manufacturers, Napino Auto and Electronics Ltd, Gurgaon has made an undisclosed investment in New Delhi based EV charging solutions start-up EVI Technologies Pvt Ltd (EVIT).
The company claimed that it aims to install a network of 2000 EV chargers besides 50 battery swapping stations in Delhi and NCR in next six to eight months. The company will also use the funding to expand its team and for the development of new and faster type of EV chargers.
15,000 chargings up to October 2019
EVIT was founded by alumni from Indian Institute of Technology, Delhi. Its founders include Rupesh Kumar, Vikrant K. Aggarwal and Aditya Raj Verma and it launched operations in 2017. The company claimed that at present, it has a network of over 200 EV chargers installed in 16 cities and has carried out more than 15,000 chargings up to October 2019.
The company was incubated in Electropreneur park, the Ministry of Electronics and Information Technology (MeitY) funded and supported incubator based in south campus of University of Delhi, to promote indigenous manufacture in entire value-chain of electronic system design manufacturing (ESDM).
Sanjeev Chopra, CEO, Electropreneur park said, “The electronics industry is one of the fastest-growing in the country. Growing at fast-paced rate, the industry indicates that it is one of the major contributors to the Indian economy. By focusing on incubating and nurturing start-ups in the electronic eco-system like EVIT, we envision to open avenues for job opportunities in the country, push for production, demand and consumption of electronic products in the domestic market which will further help in the economic development.”