We Founder Circle, a prominent investment firm, has recently made a significant investment in NIKOL EV, an early-revenue start-up that is poised to disrupt the Indian Electric Vehicle (EV) market. NIKOL EV, launched in August 2021, has gained recognition as an exceptional start-up and has received funding from renowned investors in its Pre-Seed round.
The investment from We Founder Circle will enable NIKOL EV to expand its business and strengthen its professional workforce. Additionally, the company plans to develop a multi-capacity EV charger capable of charging various types of vehicles, with a focus on testing and certification.
NIKOL EV, founded by Arjun D Pawar, aims to address the disparity between the growing demand for electric vehicles and the lack of operational charging facilities in India. Currently, over 70% of charging facilities in the country are non-operational or lack proper infrastructure. As a countermeasure, NIKOL EV aims to establish India’s most extensive and reliable EV charging infrastructure, with an uptime of over 95%.
The company’s mobile application provides access to a widespread network of over 3,000 chargers, allowing EV owners to easily find, book, and pay for their charging requirements. NIKOL EV has also received support from the Science & Technology Park, University of Pune, through the NIDHI Prayas program, further validating its mission.
Bhawna Bhatnagar, Co-Founder of EvolveX, expressed the significance of this investment in addressing the lack of EV charging facilities in India. With the support from We Founder Circle and other investors, NIKOL EV aims to enhance the accessibility of EV charging stations and contribute to a greener and more sustainable transportation system.
Arjun D Pawar, the founder and CEO of NIKOL EV, is a seasoned player in the EV sector and has set an ambitious installation target of 1 lakh EV charging stations in India by 2030. He also leads EV Duniya, an online platform dedicated to providing up-to-date news and information on the EV sector.
We Founder Circle’s investment in NIKOL EV exemplifies its commitment to nurturing innovative start-ups and championing transformative ideas that can reshape industries and tackle critical challenges head-on.
– [We Founder Circle invests in early-revenue EV start-up NIKOL EV](source.article1)
– [NIKOL EV aims to disrupt the Indian EV market](source.article2)