[Funding Alert] EV tech startup Electrifuel raises INR 1.8 Cr from IAN Fund and other Angels

Startup Funding

Electric vehicle (EV) technology startup Electrifuel raised INR 1.8 crore in funding from Indian Angel Network (IAN), led by lead investors Vishnuraj Kunjur, Sahil Kejriwal and Pradeep Gupta.

The startup will use the funds to hire for more roles as it expands its team to expand production and invest in research and development (R&D). 

Founded in 2017 by Sumesh Kumar, Sunil Kumar, Abhishek Kumar and Ujjwal Bhardwaj, Electrifuel helps EV and battery manufacturers provide products with accurate geolocation and mobile connectivity, efficient and fast charging, battery replacement, warranty and service management.

The EV startup claims to have deployed more than 15,000 units of its products to more than 25 customers and is in trials with four battery manufacturers. In addition to the battery management system, they provide hardware such as an engine controller, vehicle control unit, telematics and a complete set of web and mobile applications for businesses and customers.

Ujjwal Bhardwaj, Co-founder of Electrifuel, said, “Although we have been an established company since our inception and are now supported by IAN, we will expand at a much faster pace and grow our team. We are looking to accelerate new product development, acquire additional clients and expand.” our overall footprint.”

Vishnuraj Kunjur of IAN, said, “Electrifuel has developed its own, proprietary battery management (BMS), telematics hardware and EV operating system through the model SaaS. Their equipment and software model are vetted against the number of units implemented by leading manufacturers such as Greenfuel, Indigrid, Waaree and Hyperex among others. We are excited to be a part of Electrifuel’s journey, growth and mission.”

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