IONAGE | $1.3M (Pre-Series A)

Founder: Vimal Kumar V, Varun Chandran, Vijith Kumar V

Sector: EV Charging / Energy Management / CleanTech

What they do

→ Runs an asset-light software and interoperability platform connecting charging networks, SME CPOs, restaurants, fuel stations, real-estate developers, housing societies and fleets

→ Works as a common infrastructure layer to discover, access and pay for chargers across different networks

→ Products include Nexus (CPO operations), the IONAGE App (discovery, trip planning, payments), Flo (CPO-fleet marketplace) and CASA (home charging management)

→ Testing a Discovery API and business SDK in closed beta, with AI/ML for load balancing and energy trading

The Funding

→ Raised $1.3 million in pre-Series A funding

→ Led by strategic investors and a consortium of CXOs from global energy and infrastructure companies (individual names not disclosed)

→ Capital earmarked for expanding platform coverage, improving charger discovery and payments, and supporting small and mid-sized CPOs

Why it matters

→ Has onboarded 25,000+ four-wheeler charging points, supports 63+ fleets and 75+ charging partners across 33 states and UTs and nearly 3,000 cities

→ Operates across 70%+ of India’s charging hardware

→ Targets 100% coverage of active charger networks and new CPO micro-clusters in Tier 2 cities over the next 18 months

→ Aims for 20 million+ units of monthly energy throughput within 12 months, growing 25%+ month-on-month

Will EV charging in India consolidate under a few big networks, or does the future belong to neutral platforms that stitch the fragmented ecosystem together?