With the help of lead investors Vishnuraj Kunjur, Sahil Kejriwal, and Pradeep Gupta, the Indian Angel Network (IAN) has invested Rs1.8 crore in the electric vehicle (EV) technology business Electrifuel.
The business stated that it will use the capital to boost production by expanding its staff and hiring for several positions as well as investing in R&D.
Sumesh Kumar, Sunil Kumar, Abhishek Kumar, and Ujjwal Bhardwaj founded Electrifuel in 2017 to support EV and battery manufacturers in providing products with exact geolocation and cellular connectivity, quick and efficient charging, battery swapping, warranty administration, and service management.
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