EV start-up Chargeup raises $7 million in pre-series A1 funding round
Chargeup, which provides battery swapping services for electric vehicles, on Thursday announced that it raised $7 million in funding in a pre-series A1 financing round, led by Capital-A and Anicut Capital along with other investors.
The new funding will be infused into expanding the services to 20 new cities and power 50,000+ drivers. The company will also strengthen its FineTech (Finance-Network-Technology) Platform, and tech stack to ensure 100 per cent uptime and a seamless experience for its customers. This will also enable the drivers to own an EV by spending 40 per cent less and earning 80 per cent more.
Other investors included Ekta Kapoor, Sunil Kalra, and Sachin Mehra. Jiraaf, a platform for high-yield alternative investment opportunities, also participated in the round by extending debt to Chargeup.
