Over $172 million in funding raised by 30 Indian startups last week
The Indian startups continued to raise funds at a normal pace, and last week, as many as 30 startups secured over $172.71 million in the country.
Chargeup, a startup of battery swapping for electric two and three-wheelers, inaugurated EV (Electric Vehicle) Mela on Saturday, in Uttam Nagar, Delhi.
The Fine-Tech platform, solving the adoption and management of EVs for last-mile mobility drivers, concluded its EV mela on Sunday.
The two-day Mela helped two and three-wheeler drivers to take vehicle demos, select products, and even get loans approved on the spot, the startup said in a statement.
Advertisement
About Rs. 1.5 crore worth of electric vehicles were booked in the event which was attended by over 1000 drivers.
Drivers were able to purchase an e-bike with a downpayment of Rs 7,000 and an e-rickshaw with a downpayment of Rs 24,000. Moreover, the range of EMI was kept as low as Rs 2,500 monthly for the convenience of EV drivers, it added.
The drivers who applied for the loans also became eligible for a lucky draw. With the further process, they will be followed by onboarding the selected drivers with the likes of Zomato, Blinkit, Rapido, Uber, etc.
While talking to The Statesman, Varun Goenka, CEO, and co-founder, Chargeup said, “Our startup is powering the growth of last-mile mobility drivers by solving the cost and convenience issues of adopting an EV.”
He further added, “We provide battery-swapping services which have reduced drivers’ battery charging anxiety. In addition to this, the operational range of autos has also increased resulting in a doubling of the earning capacity of EV drivers. This EV Mela is a step ahead in this direction. This EV Mela provides an end-to-end offering from EV adoption to Employment.”
The Chargeup CEO claimed that their batteries cost only Rs 60 per swapping which has a range of about 60 km, reducing operational cost to just Rs 1/km. He also informed us that their services are available at 60 Pincode out of 95 pin codes in Delhi.
When asked about the problem of the explosion of batteries in EVs and security for the EV drivers, he said, “We keep a regular watch on batteries we provide to drivers through IOTs (Internet of Things). They keep us updated about the battery’s health and give us a regular alert. This helps us in safeguarding auto drivers’ life escaping any adverse situation.”
During the event, a panel discussion was held, where representatives of companies such as Hero Electric, Lohia Auto, Zomato, PaisaLo, etc. shared their thoughts on the future of the EV market in India.
Jogi Ram Jain, Ex-Chairman, Standing Committee, NDMC was the chief guest for the event. Appreciating the effort of the company he said, “It has brought together stakeholders from the EV ecosystem to accrue benefits for the last-mile mobility drivers. It will surely help in the reduction of pollution in Delhi along with providing jobs.
Nitin Bhardwaj, Institutional Sales, Hero Electric said, “This is a great initiative by Chargeup, and as an EV OEM, it is our endeavor to use the best of technology to create safe, reliable, and affordable electric vehicles for the Indian conditions.”
Advertisement
