Ionage has Closes $1.3 Mn in to grow its EV charging platform

The funding was led by investors and a group of CXOs from global energy and infrastructure companies. Ionage plans to use the money to increase its coverage of active EV charger networks improve how users find and pay for chargers and help small and medium-sized charge point operators (CPOs).

Ionage’s EV Charging Platform

Ionage provides software and interoperability solutions that link different EV charging networks on one platform. Its network includes charging networks, CPOs, restaurants, fuel stations, real estate developers, housing societies and commercial fleets.

The company wants to make EV charging easier by letting users find and use chargers from networks. Ionage compares its work to the interoperability that UPI offers across banks.

The company says its platform has added than 25,000 four-wheeler charging points supports 63+ fleets and works with more than 75 charging partners

How Will Ionage Use the Funding?

Ionage will use the money to expand its platform and work toward connecting all active charger networks in India.

The company also wants to improve how users find and pay for chargers. Another goal is to help CPOs set up and manage charging stations more easily.

In the 18 months Ionage plans to support new CPO micro-clusters in Tier 2 cities to improve EV charging access outside major cities.

The company is targeting energy throughput of more than 20 million units within the next 12 months with month-on-month growth of more than 25% according to Ionage.

Ionage’s Products and AI Capabilities

Ionage offers products for different parts of the EV charging ecosystem.

Its Nexus platform helps CPOs manage their charging operations while the IONAGE App lets EV users find chargers, plan trips charge their vehicles and make payments.

The company also runs Flo, a CPO-fleet discovery marketplace and CASA, a home charging management solution. Ionage is testing a Discovery API and business SDK in beta.

Ionage and India’s EV Charging Market

India’s EV charging ecosystem still faces problems with charger availability, how to find them, standardisation, interoperability and payments.

Ionage is building its platform around these problems by offering an infrastructure layer so EV drivers can find, access and pay for chargers across different networks.

The company says industry estimates show that India may need than 1.32 million public EV chargers by 2030 to support more, than 30 million electric two-wheelers and four-wheelers.

As EV use and charging infrastructure grows Ionage sees interoperability as a part of Indias charging ecosystem.

About Ionage

Ionage is an EV charging interoperability and energy management platform based in India. The company connects EV charging networks, charge point operators, fleets, businesses and other infrastructure providers through its software platform.

Vimal Kumar V, Co-founder and CEO of Ionage said the company wants to create an operating layer across charging networks so EV users can reliably find, access and pay for charging services regardless of who owns the charging infrastructure.

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