RoadGrid Secures ₹12 Crore in Pre-Series A Funding Round

Indore-based RoadGrid has raised ₹12 crore in a pre-series A funding round led by Inflection Point Ventures, with participation from Venture Catalysts, FAAD Network, LetsVenture, and several angel investors. The capital will support the company's expansion of EV charging infrastructure across India, as it works to address the gap between current charging availability and projected demand of 30 lakh stations by 2030.

The funding round included strategic and angel investors such as Kamal Puri of Skyline Group, Vrinda Goyal of Pace Group, Haresh Patel of Arthanomics, and Maneesh Shrivastav of Alpha Value. The investment marks a significant step in RoadGrid's plan to build what it describes as India's largest EV charging ecosystem.

RoadGrid operates through two business segments. The first involves manufacturing and selling EV chargers to original equipment manufacturers for two-wheelers, three-wheelers, and four-wheelers. The second focuses on establishing and operating public and commercial charging stations under a Charging as a Service model.

The company currently has active deployments in Indore and Noida, along with installations at IOCL facilities. It has executed orders for utilities including BSES, NPCL, and Navi Mumbai Transport, with a confirmed pipeline exceeding 1,000 chargers. To date, RoadGrid has completed over 100 installations across Madhya Pradesh, Rajasthan, and Karnataka for clients including IOCL, Amazon, BSES, and NPCL.

RoadGrid has also partnered with VinFast arm Vgreen to develop an EV charging network at HPCL retail outlets and is serving as a technology partner for VinFast's aftersales network in India. The company is executing orders for 76 chargers in Indore and 250 chargers in Navi Mumbai, with an additional 1,000-plus chargers under order for direct OEM sales.

The founding team comprises Deepesh Shrinath (Founder & CEO), who brings over 10 years of engineering experience from roles at Emerson and Eaton; Shashank Narayan (CTO), who has 10-plus years in EV charging and renewable energy from Delta Electronics and HARTING; Chandraprakash Akotkar (COO), with 12 years in electrical design and infrastructure; and Bharat Joshi (CMO), who has 30 years of experience in advertising and infrastructure.

Mitesh Shah, Co-founder IPV, says, "One of the biggest gaps in India's EV journey today is not intent, but infrastructure. Consumers are ready to adopt electric mobility, but the lack of reliable, accessible charging continues to slow scale. What stood out to us about RoadGrid is their clear understanding of this gap and their ability to address it across multiple layers, from charger manufacturing to on-ground charging operations. Their focus on both OEM partnerships and public charging networks positions them well to build infrastructure that is not just expansive, but practical and sustainable."

Deepesh Shrinath, Founder & CEO, RoadGrid says, "RoadGrid is on a mission to enable seamless, sustainable, and accessible electric mobility across India. We are focused on building reliable, universal charging infrastructure that works across vehicle categories and real-world use cases. With our VC partners, we will be scaling EV charging infrastructure that can become foundational to India's EV ecosystem and support adoption at a national level."

The EV charging market in India is currently valued at ₹5,000 crore and is projected to reach ₹50,000 crore over the next six years. India currently has approximately 8,000 charging stations installed nationwide. The government aims for 30 percent private vehicle penetration of EVs by 2030, which would translate to 80-100 million electric vehicles requiring charging infrastructure.

Inflection Point Ventures is an angel investing platform with over 24,000 investors and has deployed more than ₹800 crore across 250-plus startups. The firm operates a $50 million Category 2 VC fund called Physis Capital, which invests in pre-series A to series B growth-stage startups.