Total amount raised
$29 Millions
Latest funding date
01/01/2025
Location
Bolt.Earth has successfully raised $5 million in a Series A funding round led by Prime Venture Partners, with participation from Union Square Ventures and Version One Ventures. The company provides a comprehensive range of charging products and solutions for electric vehicles, aiming to enhance EV infrastructure across India.
Keep reading to explore the intricacies of Bolt.Earth's fundraising journey and the investors backing this innovative platform.
What Is Bolt.Earth?
Bolt.Earth, founded in 2017, is a leading provider of electric vehicle (EV) charging solutions based in Bangalore, Karnataka, India. The company operates in the automotive, electric vehicle, and energy storage industries.
With a workforce of 101-250 employees, Bolt.Earth is spearheaded by founder Jyotiranjan Harichandan. The company boasts India's largest EV charging network, featuring over 35,000 charging points across more than 1,400 cities.
Bolt.Earth offers a range of charging products and solutions, including Level 1, Level 2 AC fast chargers, and Level 3 DC fast chargers. Their mission is to drive cleaner mobility in emerging markets by developing a robust network of edge devices and an operating stack to facilitate EV adoption.
How Much Funding Has Bolt.Earth Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 21, 2019
- Lead Investors: ITI Growth Opportunities Fund, Xseed Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop core EV charging solutions.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 20, 2021
- Lead Investors: Prime Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product portfolio and enhance market presence.
- Series A
- Amount Raised: $4,000,000
- Date: September 2, 2021
- Lead Investors: Prime Venture Partners, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operational capacity and develop fast-charging solutions.
- Venture Round
- Amount Raised: $20,000,000
- Date: October 5, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product portfolio and enhance the company's market presence.
- Series A
- Amount Raised: $5,000,000
- Date: January 17, 2025
- Lead Investors: Version One Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operational capability across India and develop next-gen fast-charging solutions.
Total Amount Raised: $29,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Prime Venture Partners
- Details: Prime Venture Partners is a venture capital firm that invests in early-stage technology companies. They focus on providing strategic guidance and operational support to startups in India.
- Investment Focus Areas: Early-stage technology companies, fintech, SaaS, healthcare.
- Notable Investments: MyGate, Quizizz, NiYO.
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm known for investing in internet services and mobile technologies. They have a strong track record of backing companies that create large networks.
- Investment Focus Areas: Internet services, mobile technologies, blockchain, fintech.
- Notable Investments: Twitter, Etsy, Coinbase.
- Version One Ventures
- Details: Version One Ventures is a venture capital firm that invests in early-stage companies across various sectors. Founded by Boris Wertz, the firm focuses on transformative networks and industries under pressure.
- Investment Focus Areas: Transformative networks, SaaS, marketplaces, healthcare.
- Notable Investments: Dapper Labs, Figure 1, Clio.
- ITI Growth Opportunities Fund
- Details: ITI Growth Opportunities Fund is an investment firm that focuses on growth-stage companies. They provide capital and strategic support to help businesses scale.
- Investment Focus Areas: Growth-stage companies, technology, consumer services.
- Notable Investments: Not publicly disclosed.
- Xseed Partners
- Details: Xseed Partners is a venture capital firm that invests in early-stage startups. They focus on providing seed funding and mentorship to innovative companies.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Bolt.Earth?
With a 63% market share in public charging stations and partnerships with major brands, Bolt.Earth is poised to capitalize on the rapidly growing EV market in India. The company plans to expand its operations across the country, develop next-gen fast chargers, and deploy comprehensive EV charging solutions for various sectors.
Future fundraising opportunities seem promising as Bolt.Earth continues to scale and innovate. The company may attract additional investments to support its ambitious growth plans and technological advancements. However, challenges such as competition, technological hurdles, and ensuring interoperability across networks could pose significant obstacles along the way.
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