Pune’s goEgoNetwork is electric vehicles (EV) Charging Startup Secures $2 Million Seed Funding.
Recently the two-year-old startup has secured $2 million in seed funding to expand its existing electric charging network. Rishi Bagla of the Bagla Group in association with Olivier Guillaumond, Head of Global Innovation Labs and Fintech at ING Bank in the Netherlands had raised the seed round. Speaking of the investment, Bagla said, “EVs are part of the larger disruption in energy and transportation, which are witnessing a considerable shift towards green technology solutions.”
“In the EV sector, more focus has begun on installing charging infrastructure. This will be the single most important factor, which drives the adoption of electric vehicles,” he added.
Further, the seed funding arrangement was initiated by Jay Shah of Sharad Shah and Company in Pune.
The goEgoNetwork charging experience was originally conceived and initiated by the founders, Sayantan Chakraborti, Pravin Kumar, and Dheeman Kadam while working for major investment banks in the Netherlands.
The company was incorporated in 2019 and today, the company has its corporate office in Pune, its lab in the Netherlands, and has already set up a state-of-the-art manufacturing facility at AURIC city in Aurangabad to cater to the fast-growing demand for robust EV chargers across the country.
goEgoNetwork Co-Founder and CEO Sayantan Chakraborti said, “The recent investment further reinforces our commitment and dedication towards being India’s only smart electric charger network. We aim to compel the market to switch towards EVs while creating more job opportunities with the best professionals in this greenfield industry.”
Following up on the manufacturing facility, goEgoNetwork has plans to open its own experience centers in the coming few months.
This year has seen aggressive investments in the EV sector despite the Covid-19 pandemic. As the Indian EV sector recorded investments of approx. Rs. 25,000 crore during the first seven months of this year. Firms like C4V, Lohum, Ruchira Green Earth, Omega Seiki, Ashok Leyland, Mahindra & Mahindra, Hyundai, Ather Energy, Hero Electric, and so on have invested in the EV and infrastructure sector.
