EV charging technology startup RoadGrid, co-founded by Deepesh Shrinath, Shashank Narayan, Chandraprakash Akotkar, and Bharat Joshi has secured Rs 13 crore in financial assistance from the Technology Development Board, an organisation operating under the Department of Science and Technology.
The assistance is tied to a Rs 27.5 crore manufacturing project through which RoadGrid plans to establish a dedicated production and assembly facility for its patented Universal EV Charger.
Commercial production targeted for 2027
RoadGrid expects the proposed facility to have an annual manufacturing capacity of 2,000 chargers. Commercial production is scheduled to begin in 2027.
The facility will manufacture and assemble several components used in the company’s charging systems, including thermal management systems, communication modules, control hardware and metering systems.
RoadGrid also plans to use locally manufactured components for the project. The facility is expected to create more than 100 jobs once operations begin.
One charging platform for multiple vehicle categories
Founded in 2020, RoadGrid develops EV charging hardware, software and energy management solutions.
Its Universal EV Charger has been designed to support multiple categories of electric vehicles through a single platform. These include electric two-wheelers, three-wheelers, passenger vehicles and commercial EVs.
The manufacturing project will allow the company to expand production of this platform while bringing a larger part of the assembly process under one facility.
RoadGrid has deployed over 100 chargers
RoadGrid currently employs more than 40 people and has deployed over 100 EV chargers. The company also reports a presence across 200 charging points.
It serves six enterprise customers and has partnerships with companies including VinFast, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited.
The new manufacturing capacity is expected to support RoadGrid’s existing charging deployments as well as its work with enterprise customers.
Earlier funding led by Venture Catalysts
Before receiving the latest financial assistance, RoadGrid had raised Rs 12 crore in a pre-Series A funding round led by Venture Catalysts.
That capital was intended to support product development, manufacturing activities and the deployment of charging infrastructure.
RoadGrid expects the upcoming facility to generate around Rs 100 crore in annual revenue at an initial production level of 1,000 chargers. This remains a company projection linked to the planned manufacturing operations.
Also Read: iPhone 18 Pro Price Could Rise by Up to $300
