Bolt.Earth Secures US$20M for Global EV Charging & Software Expansion

Earth Secures US$20M for Global EV Charging & Software Expansion

The company plans to use the funds to further its charging network development.

India-based electric vehicle (EV) infrastructure and software company, Bolt.Earth, has recently completed a funding round, raising US$20 million. The landmark funding round was spearheaded by a consortium of both longstanding and new investors, featuring notable names including Union Square Ventures, Prime Venture Partners, ITIGO Funds and several others who share Bolt.Earth’s vision for a sustainable and electrified transportation ecosystem.

Fund allocation blueprint 

Bolt.Earth has made commendable progress in its charging network, recently marking the deployment of 30,000 EV charging points. These stations are designed to serve a variety of charging needs, offering a range of power outputs that span from 3.3 kW to a robust 240 kW. The influx of funds will also provide a significant boost to the development of Bolt.Earth’s product offerings. The company’s portfolio, catering to a wide customer base, includes notable models such as the Bolt.Earth Lite, Bolt.Earth LEVAC, and Bolt.Earth Level 2 & 3.

In addition to hardware, the company is venturing into the software realm with the launch of Bolt.Earth OS. This operating system signifies the firm’s commitment to a future that marries technological advancement with sustainability. Designed to be intuitive, its low-code integration platform is tailored to assist original equipment manufacturers (OEMs) and EV dealers in transforming their vehicles into software-defined entities. 

As part of its growth strategy, Bolt.Earth is also in the process of recruiting professionals renowned in fields like technology, engineering and product design. This talent acquisition drive aims to further cement the company’s position as a leader in the EV infrastructure sector.

On the global front, Bolt.Earth is poised to expand its footprint. With an ambition that stretches beyond its current markets, the company aspires to be at the forefront of promoting electric vehicle adoption across Asia, Europe, South America and Latin America.

Leadership insights: Bolt.Earth’s vision

Mr. Jyotiranjan Harichandan, Co-founder of Bolt.Earth, expressed the company’s dedication to expanding the EV charging network, highlighting their achievement of adding approximately 2,000 charging points monthly. He also emphasized Bolt.Earth’s significant market share in the Indian EV charging domain, which is facilitated by their integrated chargers and software-defined vehicles.

Echoing Harichandan’s sentiment, Mr. Mohit Yadav, another Co-founder, shared his gratitude towards their supportive investors. He remarked on the funding’s pivotal role in enhancing the company’s domestic reach and initiating the “Make in India” campaign for EV charging infrastructure products on a global scale.

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Header Image Courtesy of Pexels

Press release link:https://www.businesswire.com/news/home/20231003805034/en/Bolt.Earth-Raises-20-Million-Funding-to-Power-the-EV-Ecosystem

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