AI-enabled energy management platform Ionage has raised $1.3 million in a pre-Series A funding round, co-led by strategic investors and a consortium of CXOs from energy and infrastructure companies. The Bengaluru-based startup plans to use the fresh capital to expand its EV charging network coverage and strengthen its technology platform.
Funding to Accelerate EV Charging Expansion
Ionage will deploy the new funds to:
- Expand coverage to 100% of active EV charging networks in India
- Improve charger discovery and digital payments for EV users
- Help small and mid-sized charge point operators (CPOs) manage stations
- Develop charging infrastructure in Tier 2 cities
Founded in 2021 by Vimal Kumar V and Varun Chandran, Ionage is developing an EV charging operating system connecting CPOs, charger manufacturers, property owners and EV users.
25,000+ Charge Points Across India
Ionage has onboarded more than 25,000 four-wheeler charge points and supports over 63 fleets across the country. Its network includes more than 75 charging partners, using charger mapping and roaming technology to connect multiple charging networks.
The platform currently operates across 33 states and Union Territories and nearly 3,000 cities, while covering more than 70% of India’s charging hardware ecosystem.
AI-Powered Energy Management
Ionage is increasingly integrating AI and machine learning into its platform for applications such as load balancing and energy trading.
The company expects to process more than 20 million units of energy per month over the next 12 months, supported by monthly growth of over 25%.
Focus on Tier 2 EV Charging
Over the next 18 months, Ionage plans to develop and support CPO micro-clusters in Tier 2 cities, helping expand charging access beyond major urban centres.
With India requiring a significant expansion of public charging infrastructure by 2030, Ionage aims to play a key role in building a more connected and accessible EV charging ecosystem.
Key Takeaways
- $1.3 million raised in pre-Series A funding
- 25,000+ four-wheeler charge points onboarded
- 75+ charging partners
- Presence across 33 states/UTs and nearly 3,000 cities
- Target of 20 million+ energy units/month within 12 months
