EV charging infrastructure solutions start-up goEgoNetwork has raised Series A equity funding of USD 8 million (almost Rs 60 Cr).
Disrupting the energy and transportation space with its vision to create a robust EV charging network, goEgoNetwork will use the funds in developing and installing the Fast DC Charging Station product line. It will also enable the leading startup to become a dominant player in six major Indian metropolitans.
“The EV industry is growing exponentially and the funding gives us growth capital to pursue the big plan of having the EV charging infrastructure in place for the people who are not buying because of range anxiety. It helps us in consolidating our position of being the preferred network for EV users by having charging stations which are having 100% uptime and to ensure that you #staychargedup,” says Sayantan Chakraborti, Managing Director & Co-Founder, goEgoNetwork.
Speaking about the future plans after the fundraising, Dheeman Kadam, Co-Founder of goEgoNetwork said, "The funding is a big boost to India's EV ecosystem. It is a step close to goEgoNetwork’s ambitious goal of having set up a hundred thousand Made in India charging stations by 2027. Out of the 9 million electric vehicles supposed to be on roads by 2027-28, we want to see a million EV owners as members of the goEgoNetwork,"
Adding to this, Pravin Kumar, Co-founder, goEgoNetwork, said, “The funding accelerates our pace in achieving the numbers of our business plan and execute our vision of enabling two million EV users charging seamlessly across our network.”
In the short run, the funding will enable a targeted reach of 8,500 charging stations across India with 15,000 paying members on the network.
goEgoNetwork had previously raised $2 million (nearly Rs 15 crore) in a seed funding round to expand its existing electric charging network and leverage the green consciousness gradually sweeping across the country.
goEgo already had a robust product range consisting of both AC and DC charging stations starting from 1.1kW AC and going up to 60kW DC. The OCPP and ARAI-certified products are backed by a technology back-end that is developed in-house. Currently, goEgo has more than 1,000 charging points across 55+ cities in 15 states in the Country.
Visit www.goegonetwork.com
“The EV industry is growing exponentially and the funding gives us growth capital to pursue the big plan of having the EV charging infrastructure in place for the people who are not buying because of range anxiety. It helps us in consolidating our position of being the preferred network for EV users by having charging stations which are having 100% uptime and to ensure that you #staychargedup,” says Sayantan Chakraborti, Managing Director & Co-Founder, goEgoNetwork.
Speaking about the future plans after the fundraising, Dheeman Kadam, Co-Founder of goEgoNetwork said, "The funding is a big boost to India's EV ecosystem. It is a step close to goEgoNetwork’s ambitious goal of having set up a hundred thousand Made in India charging stations by 2027. Out of the 9 million electric vehicles supposed to be on roads by 2027-28, we want to see a million EV owners as members of the goEgoNetwork,"
Adding to this, Pravin Kumar, Co-founder, goEgoNetwork, said, “The funding accelerates our pace in achieving the numbers of our business plan and execute our vision of enabling two million EV users charging seamlessly across our network.”
In the short run, the funding will enable a targeted reach of 8,500 charging stations across India with 15,000 paying members on the network.
goEgoNetwork had previously raised $2 million (nearly Rs 15 crore) in a seed funding round to expand its existing electric charging network and leverage the green consciousness gradually sweeping across the country.
goEgo already had a robust product range consisting of both AC and DC charging stations starting from 1.1kW AC and going up to 60kW DC. The OCPP and ARAI-certified products are backed by a technology back-end that is developed in-house. Currently, goEgo has more than 1,000 charging points across 55+ cities in 15 states in the Country.
Visit www.goegonetwork.com
We visited goEgo's 'Charging Park' at Baner in Pune
Additional Investment would mean more such 'charging parks' can be created at high traffic routes.
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PluginIndia's Take
It's awesome to see startups like goEgo up the ante and offer great EV charging infrastructure in India. We visited their factory in 2021 and saw how they manufacture their AC charging units. They have very interesting EV charging solutions for apartments. In fact, we have been using their setups in our apartment to charge our EV's. The app works very well and the entire process is seamless. We also visited their charging park concept, where there are DC Fast chargers installed at a great location on the NH48 highway in Baner, Pune. This location is always busy with Tata Nexon EV, Tigor EV, MG ZS EV and other cars visiting to top up. Four cars can charge simultaneously with loads of upto 30 kW each. There is also AC charging equipment for two and three wheelers. The goEgo team has created a nice garden with lawns to sit and relax while our EV's get topped up. There are rest rooms, snacks and helpful attendant's too. The team has great ideas to expand this charging park concept to more locations. This additional funding will enable them to exactly that.
We at PluginIndia expect more from this awesome startup and wish them the best!
It's awesome to see startups like goEgo up the ante and offer great EV charging infrastructure in India. We visited their factory in 2021 and saw how they manufacture their AC charging units. They have very interesting EV charging solutions for apartments. In fact, we have been using their setups in our apartment to charge our EV's. The app works very well and the entire process is seamless. We also visited their charging park concept, where there are DC Fast chargers installed at a great location on the NH48 highway in Baner, Pune. This location is always busy with Tata Nexon EV, Tigor EV, MG ZS EV and other cars visiting to top up. Four cars can charge simultaneously with loads of upto 30 kW each. There is also AC charging equipment for two and three wheelers. The goEgo team has created a nice garden with lawns to sit and relax while our EV's get topped up. There are rest rooms, snacks and helpful attendant's too. The team has great ideas to expand this charging park concept to more locations. This additional funding will enable them to exactly that.
We at PluginIndia expect more from this awesome startup and wish them the best!