EV tech startup Chargeup has raised ₹22 crore in a funding round led by early-stage investment platform IAN Group, with participation from Cap-A and existing investors.
The fresh capital will be used to expand into high-demand markets, strengthen the company’s driver-first EV technology platform, and scale operations across EV-focused regions.
Founded in 2019 by Varun Goenka and Satish Mittal, the startup is building a unified EV tech platform aimed at improving earnings security for last-mile drivers while de-risking lending for NBFCs.
“Chargeup is building a high-growth, profitable company focused on empowering last-mile drivers with better earnings and financial security. The IAN Group’s investment will accelerate our journey toward our Mission Million milestone, enabling a million drivers to become financially independent,” said Varun Goenka, co-founder & CEO, Chargeup.
The company addresses pain points for EV three-wheeler drivers, which includes high financing costs, frequent battery replacements, and vehicle downtime.
Chargeup said it has onboarded more than 10,000 EV drivers to date.
