Bolt.Earth, an India-based EV infrastructure and software company, has announced that it has raised $20 million in a recent funding round. The investment round was led by a group of investors, comprising both existing and recently joined investors, which included Union Square Ventures, Prime Venture Partners, ITIGO Funds, and various others.
The company provides an operating system, a connected platform technology that assists manufacturers in creating, managing, and overseeing their charging networks and vehicles.
The company will utilise the funds for the growth of its charging network. The company has already installed more than 30,000 EV charging stations in its network, providing a diverse range of charging choices, from gradual to rapid charging, with power capacities ranging from 3.3 kW to 240 kW.
Furthermore, the funding will also assist in the development of the company’s product portfolio, which includes a variety of charging stations designed to meet the needs of a wide range of customers. A portion of the funds will also be allocated to the deployment of the company’s operating system. This system is specifically designed to offer original equipment manufacturers and EV dealers a pathway to transform their vehicles into software-defined vehicles. The funding will enable Bolt.Earth to expand into new markets, playing a role in accelerating the adoption of electric vehicles in regions such as Asia, Europe, South America, and Latin America.