VoltUp raises $8M in seed fund round to accelerate offerings

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VoltUp raises $8M in seed fund round to accelerate offerings - YourStory

Quick Summary:

The Mobility-as-a-Service (MaaS) and battery swapping startup plans to deploy around 1,000 new swapping stations across 20 centres following the fundraise.

The funding news comes days after The Ministry of Power laid out updated guidelines on installing and operating battery swapping and charging infrastructure to fast-track the adoption of electric vehicles (EVs) in the country.“We are excited to announce our investment in VoltUp and support their mission to amplify electric 2- and 3-wheeler adoption across India. VoltUp is an innovative company not only well-positioned to grow financially, but also contribute toa more sustainable future. This investment is aligned with our Impact Investment Strategy, aimed at providing capital to scalable energy transition companies with proven business models across high growth markets such as those in Emerging Asia,” said James Kinsbrook, Managing Director, EM Impact Capital.

The founder also added that the company is gearing up for a Series A fundraise later this year.