Electric vehicle (EV) infrastructure startup Revos has raised $4 million from venture capital firms Union Square Ventures (USV) and Prime Venture Partners (PVP) in its Series A round. The company will use the funds to install EV chargers in the country. “We are excited to have the trust of leading VCs in India and the US. They share our mission that to increase adoption of EV is to make charging easier,” said Jyotiranjan Harichandan, Cofounder, Revos.
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Since its launch, Revos has been used in 10,000 devices, particularly in two-wheeler and three-wheeler EV chargers, by 30 Original Equipment Manufacturers (OEMs) in India, China, Vietnam, Nepal and Egypt. The venture capital firm USV has been making a climate thesis for companies trying to decrease the climate crisis. “As part of the climate research, we have been working on particular ideas. The first is to look at is the electrification of transportation. That led us to look for a lot of new transportation. And that has led us to countries like India and China,” said Albert Wenger, managing partner, USV.