CHENNAI: American VC firm Union Square Ventures and homegrown Prime Venture Partners have jointly backed EV infrastructure startup Revos with an investment of $ 4 million in Series A.
This is Union Square Ventures’ first investment in an Indian startup. It is also the first announced EV infra backing for both VC firms.
The funds will be used to support the wide expansion of its peer to peer EV charging network and smart EV platform for two & three wheelers.
The startup will also deploy EV chargers across the country, and strengthen its technology team.
With EVs facing a catch-22 situation when it comes to charging infrastructure, Revos said that in the next three years,
