EV charging technology startup RoadGrid has secured Rs 13 crore in financial assistance from the Technology Development Board (TDB) under the Department of Science and Technology for a Rs 27.5 crore manufacturing project. The firm will use the funds to establish a manufacturing and assembly facility for its patented Universal EV Charger. The facility will have an annual capacity of 2,000 chargers, with commercial production expected to begin in March 2027. Founded in 2020, RoadGrid develops EV charging hardware, software and energy management solutions. Its Universal EV Charger supports electric two-wheelers, three-wheelers, passenger vehicles and commercial EVs through a single platform. The brand claims that its facility will manufacture and assemble components including power electronics, thermal management systems, communication modules, control hardware and metering systems. The project will use locally manufactured components and is expected to create more than 100 jobs. RoadGrid currently employs over 40 people and has deployed more than 100 EV chargers while managing over 200 charging points. It works with six enterprise customers and has partnerships with companies including VinFast, HPCL and IOCL. Earlier this year, RoadGrid raised Rs 12 crore in a pre-Series A funding round led by Venture Catalysts to support product development, manufacturing and charging infrastructure deployment. The company expects the new facility to generate around Rs 100 crore in annual revenue at an initial production level of 1,000 chargers. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
