Delhi-based EV tech startup Chargeup has successfully raised ₹22 crore in a funding round led by IAN Group, with participation from investment partner Cap-A along with existing investors. This capital injection is earmarked for market expansion, technology enhancement and scaling Chargeup’s platform that serves last-mile EV drivers and ecosystem partners.
Addressing Last-Mile Driver Challenges
Chargeup’s platform integrates IoT-enabled digital tools and data-driven solutions to reduce operational and financing challenges faced by electric three-wheeler drivers many of whom earn under ₹800 per day due to steep financing costs, battery replacements and vehicle downtime. By connecting drivers, lenders, dealers and OEMs on a unified platform, Chargeup helps de-risk lending and improve income predictability for drivers.
Strategic Use of Funds and Growth Plans
The ₹22 crore funding will help Chargeup expand into high-demand EV markets across India and accelerate onboarding of drivers and ecosystem partners. Chargeup has already signed up over 10,000 drivers and plans to add nearly 20,000 more by FY27, capitalizing on the expanding adoption of electric three-wheelers in logistics and passenger mobility.
Investor Confidence in EV Ecosystem Platforms
The lead investment from IAN Group, known for backing technology-led scalable ventures, reflects growing investor interest in startups that address structural barriers within India’s EV landscape particularly platforms that enable financial inclusion, asset efficiency and long-term sustainability for last-mile mobility.
