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Bolt.Earth, a pioneering startup from India, has successfully secured a whopping $20 million in its latest funding round. With a vision to revolutionize the electric vehicle (EV) sector, the company offers both charging infrastructure and innovative software solutions. This recent influx of capital is set to propel the company’s expansion not only within India but also in international markets.
A Glimpse into Bolt.Earth’s Journey
Founded in 2017, Bolt.Earth embarked on its journey with the creation of connected devices under the brand name REVOS. However, a year later, in 2018, the company broadened its horizons and ventured into the EV charging network business. Today, the startup boasts a vast charging network with over 30,000 charging points spread across more than 11 cities.
Diverse Charging Options for Users
Bolt.Earth is not just about quantity but also quality. The startup provides its users with both fast and slow charging options. These options vary in power outputs, ranging from a modest 3.3 kW to a robust 240 kW. With over 150,000 users, the company claims to cover more than half of India’s EV charging network. Furthermore, they are on a rapid expansion spree, adding approximately 2,000 new charging points every month.
Expansion and Future Endeavors
The recent funding will serve multiple purposes. While a significant portion will be allocated to further expand the charging infrastructure, Bolt.Earth also has its eyes set on international markets. The startup aims to establish its presence in Asia, Europe, South America, and Latin America. Additionally, they plan to enhance their product range and introduce their operating system, Bolt.Earth OS, to newer vehicles. This software is designed to provide a seamless experience on EVs and is already operational on over 20,000 EVs in India.
A Word from the Co-founders
Jyotiranjan Harichandan, Co-Founder of Bolt.Earth, expressed his enthusiasm about the company’s rapid growth and its contribution to over 50% of India’s EV charging network. On the other hand, Mohit Yadav, another Co-Founder, shared his gratitude towards the investors. He emphasized the company’s commitment to expanding its reach throughout India and introducing ‘Make in India’ EV charging infrastructure products to the global market.
In conclusion, Bolt.Earth’s recent funding is a testament to its potential and the growing demand for EV infrastructure. With a clear vision and robust strategies in place, the startup is poised to make significant strides in the EV sector.
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