VC Fund Investments
EV charging solutions provider Plugzmart raises Rs.3.63 Cr led by BlueHill Capital
IIT (Madras)-incubated startup Plugzmart, which offers charging solutions for electric vehicles, has raised INR 3.63 crore in a funding round led by Chennai-based seed VC fund BlueHill Capital.Other investors in the round include Meera Reddy of SKCL, L Ramkumar, Sivadas Raghava and Shailaja Reddy. The startup plans to use the funds for R&D, for scaling up the team and to expand the production to meet the order pipeline in hand. It is also targeting to deliver at least 10 lakh indigenously-designed and manufactured chargers in the next three years.
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