Industrialist Ratan Tata-backed power distribution startup Repos Energy plans to boost round Rs 300 crore to fund its growth plans. The startup is trying to have 20,000 cellular gasoline stations and 5,000 cellular electrical automobile charging stations within the subsequent 5 years.
Repos Energy Co-Founder Aditi Bhosale Walunj stated the corporate can be focusing on a five-fold progress within the topline this fiscal on the again of a newly launched fintech platform for gasoline financing.
In the final fiscal, the corporate posted a income of Rs 63 crore and now, Rs 300 crore income within the present monetary yr.
Aditi, alongside together with her husband Chetan Walunj, based the startup in 2017. It has obtained funding from Tata Sons Chairman Emeritus Ratan Tata twice.
“We are looking at Series A round of funding in the next six months. Our plan is to raise around Rs 300 crore in this round of funding,” Aditi Bhosale Walunj instructed PTI.
According to her, for 4 years, the corporate was bootstrapped and it was solely in May this yr that it garnered funds in pre-series from traders.
“We are now looking at green funds, impact funds, the climate funds, etc. This is what the world is looking for. The only things are that we have to tap the right people and right source,” she stated.
Recently, the corporate mopped up Rs 56 crore as a part of pre-series A funding with a mixture of each debt and fairness from Ratan Tata and different traders.
On the Electric Vehicles (EVs) entrance, she stated the corporate was 100 cellular EV charging stations by 2023, and three,000 such services by FY26.
“In the next five years, our goal is to have 5,000 mobile electric vehicle charging stations as well as 20,000 mobile fuel stations,” she stated.
Earlier this month, Repos Energy launched a cellular natural waste powered-EV charging resolution in addition to a ‘Repos Pay’ fintech platform for gasoline financing.
Currently, Repos Energy has presence throughout 220 cities within the nation with over 1,800 cellular gasoline pumps.
Source: auto.economictimes.indiatimes.com