Why Bolt.Earth raised $20M led by Union Square Ventures, others

EV charging infrastructure provider Bolt.Earth has raised $20 million in funding led by Union Square Ventures, Prime Venture Partners, ITIGO Funds, and several others.

Last month, The startup surpassed 30,000 EV charging points on its network and is expanding at a rate of approximately 500 charging points monthly, catering to a wide spectrum of charging needs.

Why Bolt.Earth raised $20 million?

The raised capital will be utilized to expand its charging network, enhance products, develop its operating system, hire talent across engineering, tech, and product sectors, as well as expand in Asia, Europe, South America, and Latin America.

What does Bolt.Earth do?

Founded in 2017 by Jyotiranjan Harichandan and Mohit Yadav, Bolt.Earth offers charging solutions for individuals, businesses, real estate companies, fleet operators, and the government.

The startup offers both slow and fast charging devices (3.3-120 kW) along with a charger management system (CMS) dashboard that allows for effective tracking and monitoring of charging deployments.

The startup claims to have partnerships with the Hindustan Petroleum Corporation Limited (HPCL), Delhi Metro Corporation (DMRC), Bengaluru Metro Rail Corporation (BMRCL), and Indian Oil Corporation Ltd. (IOCL);