EV charging infrastructure startup RoadGrid has raised ₹12 crore in a Pre-Series A funding round led by Inflexion Point Ventures, with participation from a group of strategic and angel investors. These include Venture Catalysts, Kamal Puri of Skyline Group, FAAD Network, LetsVenture, Vrinda Goyal of Pace Group, Haresh Patel of Arthonomics and Manish Srivastava of Alpha Value.
This funding marks an important milestone in RoadGrid’s ambition to build one of India’s largest and most accessible electric vehicle charging ecosystems.
RoadGrid operates across two rapidly growing verticals. The first focuses on manufacturing and supplying EV chargers to Original Equipment Manufacturers (OEMs) to meet the growing demand for off-board and fast DC charging solutions for two-wheelers, three-wheelers and passenger vehicles. The second vertical includes the deployment and operation of public and commercial charging stations – this segment is expected to require around 30 lakh charging points by 2030, while currently around 8,000 are installed across the country.
The company’s business model combines charging as a service with direct OEM sales. RoadGrid is installing and operating charging stations with strong order book with utilities like BSES and NPCL and Navi Mumbai Transport as well as active deployment at Indore Noida and IOCL. The company has a solid pipeline of over 1,000 chargers. In parallel, RoadGrid supplies chargers directly to EV OEMs. RoadGrid has partnered with VinFast arm WeGreen to develop EV charging network at HPCL retail outlets. As a technology partner, RoadGrid is also supporting the EV network for VinFast aftersales network in India.
The company operates in two segments. Under Charging as a Service (CaaS), it installs, operates and maintains EV charging stations, with orders currently under execution, including deployment in Indore (76 chargers) and Navi Mumbai (250 chargers). These executions along with active engagement with utilities like BSES and NPCL have resulted in a confirmed order book and pipeline of over 1,000 chargers. In parallel, the company undertakes direct OEM sales of EV chargers in the 2W, 3W and 4W segments, supported by an additional 1,000+ chargers under order. To date, the company has executed over 100 installations in MP, Rajasthan and Karnataka for major customers including IOCL, Amazon, BSES and NPCL, including deployments in cities such as Lucknow, Hyderabad and Bangalore. The EV charging market is currently estimated at ₹5,000 crore and is expected to grow to ₹50,000 crore in the next six years.
The founding team brings experience in EV infrastructure, engineering and operations. Deepesh Srinath (Founder & CEO) has 10+ years of experience with an engineering and MBA background and prior roles at Emerson and Eaton. Shashank Narayan (CTO) has 10+ years of experience in EV charging and renewable energy with prior roles at Delta Electronics and Harting, and is the author of the EV Charger Handbook published by NITI Aayog. Chandraprakash Akotkar (COO) has 12+ years of experience in electrical design and infrastructure projects, while Bharat Joshi (CMO) has 30+ years of experience in advertising infrastructure and has represented India internationally in sports.
Mitesh Shah, co-founder of IPV, says, “One of the biggest gaps in India’s EV journey today is not intention, but infrastructure. Consumers are ready to adopt electric mobility, but the lack of reliable, accessible charging continues to slow the pace. What stood out to us about RoadGrid is their clear understanding of this gap and their ability to address it across multiple layers, from charger manufacturing to on-ground charging operations. Both OEM partnerships and public charging networks “But their focus puts them in good position to build infrastructure that is not only comprehensive, but practical and sustainable.”
Deepesh Srinath, Founder and CEO of RoadGrid, says, “RoadGrid is on a mission to enable seamless, sustainable and accessible electric mobility across India. We are focused on building reliable, universal charging infrastructure that works across vehicle categories and real-world use cases. Along with our VC partners, we will expand EV charging infrastructure that can become foundational to India’s EV ecosystem and support national scale adoption.”
The EV charging market opportunity spans two segments. The first is manufacturing and selling chargers as OEMs, driven by expectations that India will have 80-100 million (8-10 crore) EVs by 2030 to meet the government target of 30% private vehicle penetration. This will require a large amount of charging equipment, both integrated with the vehicles and as external charging solutions. The second segment is operationalizing charging stations, which represents a significant opportunity given the need for approximately 30 lakh charging stations by 2030 in India compared to the current base of approximately 8,000 stations.
RoadGrid is an India-based electric vehicle charging technology company focused on developing patented universal charging solutions, intelligent cloud-based software and a nationwide EV charging network. Founded by industry veterans with extensive experience in power infrastructure, renewable energy, EV technologies and large-scale project execution, the company aims to enable seamless, sustainable and widely accessible electric mobility across India.