Bolt.Earth
Overview
Bolt.Earth is a prominent electric vehicle (EV) solutions provider based in Bengaluru, India. Founded in 2017 by Jyotiranjan Harichandan and Mohit Yadav, the company operates India’s largest EV charging network, with over 36,000 charging points across 1,600 cities, serving 208,000 active users. Bolt.Earth leverages an integrated approach combining hardware and software to support charging solutions for a variety of EVs. As of January 2025, the company has raised substantial funding, securing $5 million in its latest Series A+ funding round.
Recent Developments
- January 2025: Bolt.Earth successfully raised $5 million in its Series A+ funding round, led by new investors Version One Ventures and existing investors Union Square Ventures and Prime Venture Partners. The funding will be used to scale operations across India, develop fast-charging solutions for various vehicle types, and enhance their end-to-end EV charging solutions.
- Leadership Changes (January 2025): Following the funding round, S. Raghav Bharadwaj was appointed as CEO, taking over from co-founder Jyotiranjan Harichandan, who will transition to Head of Strategic Partnerships. Mohit Yadav will become Chief Technology Officer.
- July 2023: Bolt.Earth secured $20 million in funding to expand its product portfolio and charging network by deploying approximately 2,000 new charging points monthly.
- October 2023: Bolt.Earth announced plans for international expansion focusing on Asia, Europe, South America, and Latin America, leveraging its $20 million fundraise to support these initiatives.
- Technological Innovations (November 2023): At the EICMA 2023 in Milan, Bolt.Earth showcased its comprehensive suite of EV products and services, emphasizing their focus on creating an agile and sustainable EV ecosystem.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Bengaluru, India |
| Founders | Jyotiranjan Harichandan, Mohit Yadav |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Version One Ventures, Union Square Ventures, Prime Venture Partners |
| Industry | Electric Vehicles, Charging Infrastructure |
| Number of Employees | 242 |
Early History
Bolt.Earth began its journey in 2017 under the original name REVOS. Recognizing the fledgling state of India’s EV infrastructure, the company focused on creating a scalable EV charging network. By 2018, Bolt.Earth had launched India’s first peer-to-peer EV charging network and expanded its operations rapidly. Over the years, the company established key partnerships with domestic and international companies, creating a robust platform for electric mobility in India.
Company Profile and Achievements
Bolt.Earth operates as a leading entity in the EV industry, providing full-stack charging solutions encompassing hardware and software platforms. The company's business model emphasizes compatibility with all EV categories—2-wheelers, 3-wheelers, and 4-wheelers.
- Milestones:
- Raised multiple funding rounds, securing over $50 million since inception.
- Expanded its charging network to over 36,000 points across India.
- Strategic partnerships with major corporations like Bajaj, Mahindra, Ather, and Piaggio.
- Introduced innovative fast-charging solutions capable of charging at up to 240 kW.
- Product Innovations: Bolt.Earth’s offerings include a range of charging solutions from slow chargers for home use to high-capacity chargers for public stations.
- Sustainability Goals: Committed to integrating renewable energy into its operations, aligning with global sustainability agendas.
Current Operations and Market Position
Bolt.Earth maintains a dominant position in India’s EV charging market with a 63% market share. The company’s integrated approach includes a proprietary operating system, Bolt.Earth OS, facilitating connectivity and compatibility across different EV brands. By continually enhancing its network, Bolt.Earth addresses range anxiety among EV users and supports emerging smart city initiatives through strategic collaborations and innovation.
Conclusion
Bolt.Earth is at the forefront of revolutionizing India’s EV market with its expansive charging network and cutting-edge technological solutions. Its strategic expansions and strong leadership have cemented its place as a transformative company in the EV space. With continued innovation and international market penetration strategies, Bolt.Earth is poised to make a significant impact on global EV adoption.