The fresh funding will allow the startup to accelerate growth of its products, which include a 3.3kW AC charging machine and a 60kW charging station, for domestic and commercial use respectively.
Founded in 2019, by M Ramanunni, V Anoop, Advaith C and Chris Thomas, chargeMOD is a subsidiary of BPM Power Private Limited and was incubated under Kerala Start-up Mission (KSUM), a central agency of the Government of Kerala for entrepreneurship development and incubation activities in Kerala.
chargeMOD has developed EV charging points for home and commercial use and their mobile app enables users to find charging stations nearby. Their product focuses on providing reliable, convenient solutions for EV owners on the go. Some of the prominent projects that startup has executed include those in partnership with Larsen & Toubro, Murugappa Group, Kerala State Electricity Board (KSEB) and Kochi Metro Rail Limited.
The startup claims to be one of the top EV charging companies in India, managing over 2,000 chargers in their system and holding over 90% of the market share in Kerala’s EV charging ecosystem.
About Phoenix Angels, it is a new Kerala based angel network formed by Shiraj Jacob, Joe Ranji and Harikrishnan V focusing on investing in Kerala-based startups.
Unlike other regular angel networks, Phoenix does not take a share in the profits earned by its investors. Phoenix Angels works on a fixed annual membership model, collected from all members. All members are required to pay a joining fee at the time of signing up.
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