DeCharge secures $2.5 million to expand EV charging network

Indian EV charging startup DeCharge has raised USD 2.5 million seed funding in a round led by Lemniscap, with participation from Colosseum, Daedalus Angels, EV3 Labs, Echo Fundraiser Chainyoda Jedis, and Levitate Labs. 

The round was also backed by several notable angels including Nom (Creator of Bonk), Shek (Superteam/Solana), Arnold Lee, Co-founder and CEO of Spherelabs; Vibhu Norby (Founder and CEO of DripHaus), Manan Patel, Founder of DeSights AI; and Mathieu Baudet, Founder of Linera, according to a media release.

DeCharge is expanding EV charging infrastructure with a network of DC fast chargers and DeCharge Beast chargers, designed to provide high-speed, accessible and intelligent charging solutions. 

DeCharge’s permissionless, community-driven deployment model also enables anyone to become a host, accelerating nationwide access to reliable charging, while giving hosts the chance to earn from charging, advertising, digital displays, and commercial leasing opportunities, the media release said.

“DeCharge is in prime position to disrupt the traditional EV charging landscape by creating an autonomous, intelligent, and accessible charging network that supports the growing number of electric vehicles worldwide,” Roderik van der Graaf, Founder and Managing Partner of Lemniscap, said. “We wholeheartedly support the team’s mission to create a more sustainable and efficient EV charging network that will accommodate the expanding ecosystem of EVs, autonomous fleets and electrified logistics systems.”

“Our vision is to build the most efficient, intelligent, and future-ready EV charging network,” Prakash Kamaraj, Co-Founder of DeCharge, said. “Securing financial backing from some of the most reputable Web3 investors is a huge endorsement for our platform, giving us the financial runway to scale rapidly and continue to integrate renewable energy sources, creating a seamless, cost-effective charging experience for all EV owners.”

“At DeCharge, we firmly believe the future of mobility will be electric, decentralized, autonomous, and community-powered,” Mohan Kuldeep Ponnada, Founder & CEO of DeCharge, said. “We are not just an EV charging company; we are building the energy infrastructure of the future, where anyone can own, deploy, and benefit from energy assets. Sincere thanks to our investors for supporting this important mission.”