India's Bolt.Earth charges ahead with $20 million investment amidst global EV surge

In the midst of an electrifying surge in demand for electric vehicles (EVs) across the globe, Bolt.Earth, an Indian-based EV infrastructure and software company, is making headlines with its recent $20 million funding round.

Founded in 2017, the Bengaluru-based EV startup pivoted from creating connected devices under the brand REVOS to become an EV charging infrastructure and software solution business, recognizing the pivotal role it could play in driving the EV revolution.

With an existing network of over 30,000 charging points spanning more than 11 cities and serving 150,000+ users, according to data available on the company's webpage, Bolt.Earth now plays a crucial role in India's EV charging network, covering more than 50% of the nation's charging infrastructure.

With the new funding, Bolt.Earth's plans to expand its charging network from its current base. It also plans to use the funding to fuel its ambitious vision to expand beyond its existing markets, aiming to catalyze the adoption of electric vehicles in regions spanning Asia, Europe, South America, and Latin America.

Before this funding round, Bolt.Earth had already secured $4.61 million, with a notable $4 million investment in a Series A round in September 2021, per available data on Tracxn.

The funding round was led by notable names including Union Square Ventures, Prime Venture Partners, ITIGO Funds, and several others.