How Much Did Bolt.Earth Raise? Funding & Key Investors

Bolt.Earth has successfully raised funding over six rounds, with the latest being a Series A round involving three investors. The company offers a comprehensive range of electric vehicle (EV) charging solutions, including smart hardware and intuitive software for various settings.

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, based in Bangalore, Karnataka, India, is a leading provider of electric vehicle (EV) charging solutions. The company operates in the automotive, electric vehicle, and energy storage industries, offering a range of smart hardware and intuitive software for EV charging.

Founded with the mission to make EV charging a seamless part of everyday life, Bolt.Earth has deployed over 100,000 chargers across India, serving more than 361,000 active EV users. The company employs between 101-250 people and continues to expand its peer-to-peer, distributed charging network to support various EV types.

How Much Funding Has Bolt.Earth Raised?

1. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: January 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 technology.
2. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2021
   • Lead Investors: Prime Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and accelerate product development.
3. Series A
   • Amount Raised: USD 4,000,000
   • Date: September 2021
   • Lead Investors: Prime Venture Partners, Union Square Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance market presence in the EV charging sector.
4. Series Unknown
   • Amount Raised: USD 20,000,000
   • Date: October 2023
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale operations and expand product offerings.
5. Series A
   • Amount Raised: USD 5,000,000
   • Date: January 2025
   • Lead Investors: Version One Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop fast-charging solutions and expand operations across India.

Total Amount Raised: USD 29,000,000. Current Valuation: Not publicly disclosed.

Key Investors

• Union Square Ventures
  • Details: Union Square Ventures is a venture capital firm based in New York City. They focus on early-stage, growth-stage, and late-stage investments.
  • Investment Focus Areas: Internet services, network effects, large-scale impact.
  • Notable Investments: Twitter, Etsy, Coinbase.
• Version One Ventures
  • Details: Founded by Boris Wertz, Version One Ventures is an early-stage venture capital firm. They invest in mission-driven founders and transformative networks.
  • Investment Focus Areas: Technology, sustainability, transformative networks.
  • Notable Investments: Dapper Labs, Figure 1, Wattpad.
• Prime Venture Partners
  • Details: Prime Venture Partners is an early-stage venture capital firm based in India. They focus on technology and product-focused companies.
  • Investment Focus Areas: Fintech, SaaS, digital health.
  • Notable Investments: MyGate, Happay, Quizizz.
• ITI Growth Opportunities Fund
  • Details: ITI Growth Opportunities Fund is a venture capital firm that invests in early-stage companies. They focus on high-growth potential sectors.
  • Investment Focus Areas: Technology, healthcare, consumer products.
  • Notable Investments: Not publicly disclosed.
• Xseed Partners
  • Details: Xseed Partners is a venture capital firm that invests in early-stage startups. They focus on innovative and disruptive technologies.
  • Investment Focus Areas: Technology, innovation, disruptive startups.
  • Notable Investments: Not publicly disclosed.

What's Next for Bolt.Earth?

With a 63% market share in India's public EV charging stations, Bolt.Earth is poised to capitalize on the rapidly growing EV market, which is expanding by 40-50% annually. The company plans to scale its operations, develop next-gen fast chargers, and enhance its app to become a comprehensive platform for EV charging services.

Future fundraising opportunities seem likely as Bolt.Earth continues to expand its network and develop advanced charging solutions. The company may seek additional funding to support these ambitious initiatives, potentially leading to further growth and market dominance.

However, Bolt.Earth faces challenges such as ensuring seamless interoperability across different networks, keeping up with technological advancements, and managing the logistics of large-scale deployment. Competition from other providers and new market entrants also poses a significant challenge.

Use Clay to Get Funding Data

Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Bolt.Earth and gather other critical business insights. Sign up for free to start transforming your sales strategy today.