NIKOL EV, an electric vehicle (EV) startup, has successfully secured an undisclosed amount of funding in its pre-seed round. The funding was provided by EvolveX, an early-stage program founded by We Founder Circle, along with other investors such as Vikas Aggarwal, Neeraj Tyagi, and Bhawna Bhatnagar.
The primary objective of the funding is to strengthen the NIKOL EV team and establish a robust backend support system that will facilitate the scaling of their business operations. One of the key goals of the company is to develop a hybrid charger capable of simultaneously charging 2-, 3-, and 4-wheelers. A portion of the funding will also be allocated towards testing and certification of this innovative charger.
NIKOL EV is actively involved in building EV charging infrastructure in the country. Their focus is to provide innovative and sustainable solutions while adopting a customer-centric approach to ensure a seamless and convenient charging experience for EV users.
EvolveX, who invested in NIKOL EV, recognizes the challenge of limited charging stations and the problem of range anxiety in hampering the mass adoption of electric vehicles. By investing in NIKOL EV, EvolveX aims to address these challenges. The co-founder of EvolveX, Bhawna Bhatnagar, believes that NIKOL EV’s commitment to enhancing the accessibility and uptime of EV charging stations makes them a key player in driving the widespread adoption of electric vehicles.
In addition to NIKOL EV, EvolveX has also invested in various other startups in different sectors, such as UcliQ, PrintBrix, EVINDIA, and Metabook XR. These investments highlight EvolveX’s dedication to supporting innovative solutions and promoting sustainable practices.
Another notable development in the EV startup landscape is Raptee, which recently announced a successful pre-Series A funding round of $3 million led by Bluehill Capital.
With these investments and developments, the EV sector continues to grow and gain momentum, contributing to a cleaner and more sustainable transportation landscape.
