Kerala’s chargeMOD Secures ₹2.5 Cr Pre-Seed Funding to Accelerate EV Charging Solutions

Kozhikode, Kerala-based chargeMOD, a provider of charging solutions for electric vehicles (EVs), has successfully secured ₹2.5 crore in a Pre-Seed Round of funding from Phoenix Angels, an angel network based in Thrissur. This announcement was made by the startup.

The newly acquired funding will empower the startup to expedite the growth of its product offerings, which encompass a 3.3kW AC charging unit designed for home use and a 60kW charging station tailored for commercial purposes.

Incorporated in 2019 by M Ramanunni, V Anoop, Advaith C, and Chris Thomas, chargeMOD operates as a subsidiary of BPM Power Private Limited. It gained its initial footing through incubation under the aegis of Kerala Start-up Mission (KSUM), a pivotal entity under the Government of Kerala dedicated to fostering entrepreneurship development and incubation initiatives in the region.

chargeMOD has successfully crafted EV charging points catering to both residential and commercial requirements. Their mobile app empowers users to effortlessly locate nearby charging stations. The company’s core focus revolves around delivering dependable and user-friendly solutions for EV owners who are on the move. Among the notable projects the startup has undertaken, significant collaborations have been forged with renowned entities like Larsen & Toubro, Murugappa Group, Kerala State Electricity Board (KSEB), and Kochi Metro Rail Limited.

With a robust claim to being among India’s premier EV charging companies, chargeMOD effectively manages a network of over 2,000 chargers within its system. Impressively, the company commands a substantial 90% market share in Kerala’s burgeoning EV charging ecosystem.

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