Tessellate Tech Ventures, investing arm of Napino Auto & Electronics Ltd, Gurgaon, which is one of the largest Automotive Electronics Component manufactures in India, has made an undisclosed investment in New Delhi based EVI Technologies Pvt Ltd (EVIT), a start-up founded by alumni from IIT Delhi.
Speaking on the funding, Team EVIT, said “EVIT is very much excited to have partnered with Napino, as their world-class manufacturing facility will help us make our product range comprehensive to meet all requirements of electric vehicle (EV) industry. EVIT is foreseeing huge opportunities in EV space and this funding will help in expanding the team and development of new and faster type of EV chargers”.
EVIT founded by Rupesh Kumar, Vikrant K. Aggarwal and Aditya Raj Verma launched operations in 2017 and provides all types of EV charging solutions ranging from home chargers, Commercial Charging Stations and battery swapping stations. EVIT is currently operating a network of over 200 EV chargers installed in 16 cities and has carried out more than 15,000 chargings upto October 2019. EVIT is looking forward to implementing an ambitious plan to install a network of 2000 EV chargers besides 50 Battery swapping stations in Delhi & NCR in next 6 to 8 months. Any EV charging customer can book the charging slot through EVIT Android/ iOS App or simply get to the nearest charging station through EVIT App. By providing DC-based fast-charging solutions and creating charging infrastructure to remove range issues, EVIT is also addressing key challenges that arise while switching to EVs.
Speaking on the growing success of EVIT, Shri Sanjeev Chopra, CEO, Electropreneur Park said, “the electronics industry is one of the fastest-growing in the country. Growing at fast-paced rate, the industry indicates that it is one of the major contributors to the Indian economy. By focusing on incubating and nurturing start-ups in the electronic eco-system like EVIT, we envision to open avenues for job opportunities in the country, push for production, demand and consumption of electronic products in the domestic market which will further help in the economic development.”
EVIT was incubated in Electropreneur Park, the Ministry of Electronics and Information Technology (MeitY) funded & supported incubator based in South Campus of University of Delhi, to promote indigenous manufacture in entire value-chain of Electronic system design manufacturing (ESDM).
In the upcoming sixth edition, Electropreneur Park is all set to nurture another 10 budding entrepreneurs in electronic eco-system of India. Electropreneur Park is inviting proposals from electronic hardware start-ups for its-incubation, incubation and visual acceleration programs. The program will run for a period of one and a half year wherein the start-ups will be given INR 50K grant in pre-incubation phase to INR 10 lakh grant for physical incubation program along with investors pitch.
Napino, which offers E-Mobility products among other electronic offerings, has earlier joined hands with US-based Farasis Energy to cater to the demand for lithium-ion battery packs for two and three-wheelers in the domestic market.
In 2017, Napino tied up with IAMAI and Mobile10X to launch Internet of Things (IoT) incubator called Iot.IN, which offers incubation to IoT based startups based in Delhi-NCR, Bangalore and Mumbai.