Today, we are very excited to announce we’ve co-led the $5M Series A+ round for Bolt.Earth, India’s largest EV charging network. We joined our friends at USV and Prime Venture Partners (both returning investors).
The Indian EV market grew by 40-50% in 2024 and enjoys strong government support. Bolt.Earth is India’s largest, most utilized, and fastest-growing charging network, with a 63% market share in terms of the number of public charging stations deployed in India. They are also India’s only vertically integrated EV charging company – as they not only run the charging network, but develop the charging hardware as well.
Bolt.Earth originally focused on charging solutions for 2 and 3 wheelers, but are about to launch DC ultra fast chargers of up to 240kW for 4 wheelers. Their next-gen LEVDC fast chargers are designed to provide rapid top-ups in just a fraction of the time required by traditional AC chargers.
We're excited to partner with S. Raghav Bharadwaj, former COO of Bolt.Earth, as he steps into the CEO role following this funding round. Founders Jyotiranjan Harichandan and Mohit Yadav are transitioning into roles as Head of Strategic Partnerships and Chief Technology Officer, respectively.
Bolt.Earth has made a large impact on India’s EV landscape, and this round of funding will help push them into the next phase of growth in this rapidly evolving market. They have a bold vision, and we’re proud to be a part of it!
