Chargeup, a driver-first EV technology platform, has raised ₹22 crore in a funding round led by IAN Group, with participation from Cap-A and existing investors.
The fresh funds raised will be used to expand into high-demand markets and strengthen its technology platform for drivers, NBFCs, and scale operations across high-demand EV-focused markets.
Founded in 2019 by Varun Goenka (CEO) and Satish Mittal (CDO), Chargeup is a driver-first EV Tech platform, enabling loan security for lenders, and earning security for drivers to run more and earn more — connecting all in one seamless platform.
Chargeup solves it with IoT integration and a unified digital platform, de-risking financing, assuring kilometres, protecting resale value, and seamlessly connecting drivers, OEMs, dealers, and lenders. Their mission is to enable 1 million Driver entrepreneurs with higher earnings by 2030.
Chargeup has already onboarded over 10,000 EV drivers and plans to add 20,000 more by FY27. The company operates in a fast-growing market, with the opportunity estimated at $12 billion, driven by the rising adoption of electric three-wheelers in logistics and passenger mobility.
Varun Goenka, Co-founder & CEO, said, “Chargeup is building a high-growth, profitable company focused on empowering last-mile drivers with better earnings and financial security. The IAN Group’s investment will accelerate our journey toward our Mission Million milestone, enabling a million drivers to become financially independent.”
