EVamp Technologies has successfully secured funding of INR 7 Crore.

EVamp Technologies, which manages Mobilane electric vehicle charging network has successfully garnered funding of INR 7 Crore in its first funding round. The company will be utilising this amount to expand their EV charging infrastructure across the country and will be investing in the production of AC chargers and Light Electric Vehicle (LEV) DC chargers. 

EVamp will be playing the role of Charge Point Operator (CPO) and will be managing charging facilities under the supervision of Mobilane brand situated in urban centers, commercial places, and highways. This new funding will be helping the company to enhance their network presence by rapidly expanding their product lineup and accelerating the EV transition in India. 

The Founder of EVamp, Devansh Shah expressed his views on the launch and said, “This funding will play a pivotal role in our EV transition journey as we are focussing on developing high-performance and advanced charging infrastructure. 

We have achieved superior capabilities in charging technology and with the constant investment, we are readily able to scale the production of AC and LEV DC chargers, thus crafting a foundation of excellence for India’s sustainable EV infrastructure.”

The Co-Founder of EVamp Technologies, Gunjan Mehta also stated further that, “The foundation of EVamp is made on strong principles of technological innovation, operational excellence, and financial sustainability. We are proud to announce that we are the only Charge Point Operator (CPO) in India to achieve significant Profit After Tax (PAT) even before raising external capital amounts. 

All this success is only possible due to the power of robust business approach and disciplined marketing strategies. As we expand our operations and start manufacturing at a big scale, we will remain committed to our principles for creating a sustainable ecosystem that will provide satisfaction to our customers, partners and investors, thus aligning according to India’s clean energy standards.”

The Mobilane network is currently spread across urban and highway locations, offering app-integrated charging functionalities. This new funding will rapidly increase the deployment, enhance user experiences and ramp up manufacturing capabilities.