Debt

Debt financing

EV charging startup RoadGrid attracts Rs.13-Cr from TDB

Economic Times  

Indore-based EV charging startup RoadGrid has raised INR 13 crore in financial assistance from the Technology Development Board (TDB) under the Department of Science and Technology. The funding is intended for a INR 27.5 crore manufacturing project.Founded in 2020 by Deepesh Shrinath, Shashank Narayan, Chandraprakash Akotkar, and Bharat Joshi, RoadGrid develops hardware, software, and energy management solutions for the EV sector.The company plans to use the new funds to establish a manufacturing and assembly facility for its patented Universal EV Charger. This facility will have an annual production capacity of 2,000 chargers, with commercial production slated to begin in March 2027.

For FY25, RoadGrid had reported about INR 2.49 Cr in Operating Income and about INR 0.04 Cr in PAT.