RoadGrid Raises Rs 12 Crore in Pre-Series A Funding Round

RoadGrid, an electric vehicle charging infrastructure technology company, has completed a Pre-Series A funding round of Rs 12 crore led by Venture Catalysts.

The investment round included participation from multiple strategic and angel investors, including Kamal Puri of Skyline Group, IPV, FAAD Network, LetsVenture, Vrinda Goyal of Pace Group, Haresh Patel of Arthanomics, and Maneesh Shrivastav of Alpha Value.

RoadGrid develops patented universal EV chargers designed to work across different vehicle types, alongside a cloud-based software platform for charging management. The company is building a nationwide network of charging stations to support India's transition to electric mobility.

The timing aligns with India's ambitious electrification targets. The government aims for 30 percent electrification of private vehicles by 2030, which is expected to result in 80 to 100 million EVs on Indian roads.

Dr Apoorva Ranjan Sharma, Founder and Managing Partner at Venture Catalysts, noted that charging infrastructure will be fundamental to India's EV transition. He highlighted RoadGrid's combination of hardware technology, software scalability, and operational execution as key factors in the investment decision.

RoadGrid operates through two primary revenue streams. The company manufactures and sells EV chargers to original equipment manufacturers, catering to two-wheelers, three-wheelers, and four-wheelers. It also operates public and commercial charging stations.

The market opportunity is substantial. India currently has approximately 8,000 charging stations installed nationwide but will require nearly 30 lakh charging stations by 2030, according to industry projections.

Founder and CEO Deepesh Shrinath described the funding as validation of RoadGrid's technology and execution capabilities. CTO Shashank Narayan emphasized that technology remains the company's core differentiator, while COO Chandraprakash Akotkar highlighted the focus on building reliable and scalable infrastructure.

CMO Bharat Joshi indicated the capital would support development of charging infrastructure as a multi-revenue urban platform integrating energy, media, and retail components.

Current Operations and Pipeline

RoadGrid has active charging station deployments in Indore, Noida, and through Indian Oil Corporation Limited. The company has secured orders from utilities including BSES, NPCL, and Navi Mumbai Transport.

The company reports a confirmed pipeline exceeding 1,000 chargers. RoadGrid also supplies chargers directly to EV manufacturers, with specialized solutions for commercial fleets including deployments for Euler Motors and the VinFast EV Network.

The EV charging market in India is currently valued at approximately Rs 5,000 crore and is projected to grow to Rs 50,000 crore over the next six years, representing a tenfold expansion.

RoadGrid's product portfolio covers the full spectrum of EV charging requirements across different vehicle categories and use cases.

The company was founded by industry veterans with experience in electrical infrastructure, renewable energy, EV technology, and large-scale project execution.