Bolt.Earth Secures $20M to Expand Global EV Charging Network
Bolt.Earth, a significant player in India’s electric vehicle (EV) infrastructure and software market, celebrates the success of a $20 million funding round led by Union Square Ventures, Prime Venture Partners, and ITIGO Funds.
The dynamic ecology of Bolt Earth includes over 30,000 charging spots strategically placed throughout over 1,100 cities. These charging points offer diverse options, from slow to fast charging, accommodating power outputs ranging from 3.3 kW to 240 kW.
Additionally, the adoption of their distinctive Bolt Earth OS by over 20,000 on-the-road vehicles is laying the groundwork for a brighter, more networked, and sustainable future for electric cars, notably Bolt. Earth OS enables Original Equipment Manufacturers (OEMs) and EV dealers to transform vehicles into software-defined entities.
The $20 million funding injection will facilitate the company’s expansion ambitions in Asia, Europe, South America, and Latin America.
Mr. Mohit Yadav, the Co-founder, expressed, “We are thrilled to have the backing of visionary investors who share our passion for transforming the EV ecosystem. The current $20 million fund-raise is a part of the company’s plan to further its reach to every nook and corner of the country, and to begin the era of ‘Make in India’ EV charging infrastructure products in the global market.”
The funds will also be used to expand its charging points to cater to a growing and diverse user base. These will include Bolt. Earth Lite, Bolt.Earth Lite Connected, Bolt.Earth LEVAC, and Bolt.Earth Level 2 & 3. Additionally, the company will develop Bolt—Earth OS capabilities.
The company’s dynamic efforts solidify its position as a transformative force in the global EV infrastructure and software market.
