Roadgrid raises Rs 12 crore in a pre-series A round

Roadgrid has raised Rs 12 crore in a pre-series A round from Inflection Point Ventures and other investors. The round marks a significant milestone in RoadGrid’s mission to create India’s largest and most accessible EV charging ecosystem. The round saw participation from a strong group of strategic and angel investors, including Venture Catalysts, Kamal Puri of Skyline Group, FAAD Network, LetsVenture, Pace Group’s Vrinda Goyal, Haresh Patel of Arthanomics, and Maneesh Shrivastav of Alpha Value.

RoadGrid operates across two high-growth segments. The first is manufacturing and sale of EV chargers to original equipment manufacturers, addressing the massive requirement for both offboard and fast DC charging for two-wheelers, three-wheelers, and four-wheelers. The second is operating public and commercial charging stations, a market that will require nearly 30 lakh charging stations by 2030 compared to about 8,000 currently installed nationwide.

The company’s business model combines Charging as a Service with direct OEM sales. RoadGrid is establishing and operating charging stations with active deployments in Indore Noida and IOCL, alongside strong order books with utilities such as BSES and NPCL and Navi Mumbai Transport. The company has a confirmed pipeline exceeding 1,000 chargers. In parallel, RoadGrid supplies chargers directly to EV OEMs. Roadgrid has partnered with VinFast arm Vgreen to develop EV charging network at HPCL retail outlets. As a technology partner Roadgrid is also supporting EV network for VinFast aftersales network in India.

The company operates across two segments. Under Charging as a Service (CaaS), it establishes and undertakes O&M of EV charging stations, with orders currently under execution, including deployments in Indore (76 chargers) and Navi Mumbai (250 chargers). These executions, along with active engagements with utilities such as BSES and NPCL, have resulted in a confirmed order book and pipeline exceeding 1,000 chargers. In parallel, the company undertakes direct OEM sales of EV chargers across 2W, 3W, and 4W segments, supported by an additional 1,000+ chargers under order. To date, the company has executed 100+ installations across MP, Rajasthan, and Karnataka for marquee clients including IOCL, Amazon, BSES, and NPCL, with deployments spanning cities such as Lucknow, Hyderabad, and Bangalore. The EV charging market is currently estimated at ?5,000 crore and is projected to grow to ?50,000 crore over the next six years.

The founding team brings experience across EV infrastructure, engineering, and operations. Deepesh Shrinath (Founder & CEO) has 10+ years of experience with 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 an EV charger handbook published by NITI Aayog. Chandraprakash Akotkar (COO) brings 12+ years of experience across 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 IPV, says, “One of the biggest gaps in India’s EV journey today is not intent, but infrastructure. Consumers are ready to adopt electric mobility, but the lack of reliable, accessible charging continues to slow scale. 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. Their focus on both OEM partnerships and public charging networks positions them well to build infrastructure that is not just expansive, but practical and sustainable.”

Deepesh Shrinath, Founder & CEO, 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. With our VC partners, we will be scaling EV charging infrastructure that can become foundational to India’s EV ecosystem and support adoption at a national level.”

The EV charging market opportunity spans two segments. The first is the manufacturing and sale of chargers as an OEM, driven by the expectation 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 large volumes of charging equipment, both integrated with vehicles and as external charging solutions. The second segment is operating charging stations, which represents a significant opportunity given the requirement of approximately 30 lakh charging stations by 2030, compared to the current base of around 8,000 stations in India.