Evamp Technologies Raises Rs 7 Crore for Charger Growth

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Evamp Technologies Raises Rs 7 Crore in its first funding round, and honestly, this is not just another startup milestone, it’s a statement. In a country racing toward electric mobility, where infrastructure often lags behind ambition, this Ahmedabad-based company is stepping up in a meaningful way. The funding will be used to scale its Mobilane EV charging network across India, while also investing in in-house manufacturing of AC chargers and Light Electric Vehicle (LEV) DC chargers.

Why does this matter? Because as India’s EV adoption surges, thanks to a mix of supportive government policies and increasing consumer awareness, the demand for reliable and accessible charging points has never been higher. Evamp isn’t just adding stations; it’s thinking about the experience of the driver, the convenience of locating a charger via an app, and the speed of charging. And in a sector where most players struggle to stay profitable, Evamp has already achieved Profit After Tax (PAT) positivity before raising a rupee of external funding, a remarkable feat.

With this round of investment, Evamp is also aiming to reduce reliance on external suppliers by manufacturing its own chargers. This move isn’t just strategic; it’s about creating control, efficiency, and sustainability. Investors clearly see the potential here: a company with solid technology, a growing network, and a strong operational backbone, ready to ride the wave of India’s EV revolution.

1. Introduction to Evamp Technologies

1.1 Company Overview

Let’s pause and understand what Evamp Technologies actually does. Based in Ahmedabad, Gujarat, this company runs the Mobilane EV charging network, positioning itself as one of India’s promising players in the electric mobility infrastructure landscape. But here’s what sets it apart: Evamp doesn’t treat chargers as just metal boxes plugged into the grid. Instead, each charging station is smart, connected, and app-integrated, ensuring that users not only charge their vehicles but have a smooth, reliable, and modern experience.

Evamp’s mission goes beyond mere station deployment. It’s about building a high-performance, future-ready EV infrastructure, one that aligns with India’s clean mobility goals. The Mobilane network is designed for efficiency, scalability, and user convenience, catering to both residential owners and commercial fleets. In other words, it’s not just about quantity, it’s about quality, experience, and long-term sustainability.

1.2 Founders and Leadership

Evamp Technologies’ story is as much about its founders as its infrastructure. Devansh Shah, Gunjan Mehta, and Divy Shah came together with complementary expertise, forming a team that balances technology, finance, and operations.

• Devansh Shah is the technology brain. He ensures that every charger, every line of software, and every operational process meets high-performance standards. You can almost hear him asking, “Does this system really deliver reliability?”
• Gunjan Mehta manages the financial health and expansion strategy. From franchise models to investor relations, he ensures the business grows sustainably while maintaining profitability.
• Divy Shah brings operational insight and scale. He’s the one asking, “Can we replicate this network across India without compromising quality?”

Together, this leadership team has steered Evamp to a rare achievement: profitability before external funding. That’s no small feat in the Indian CPO space, where many players scramble for capital while struggling to balance operations. Their combined vision positions Evamp as a trusted and forward-looking EV infrastructure provider, not just another name on a map of charging stations.

2. Business Model and Revenue Streams

2.1 Charging Infrastructure

Evamp’s primary revenue model revolves around the deployment and operation of EV charging stations. These stations are strategically located in:

1. Urban centers – residential areas and commercial hubs.
2. Highways – for long-distance EV commuters.
3. Commercial spaces – office complexes and retail areas.

Revenue comes from usage fees, paid by EV owners per charging session. Evamp offers AC chargers for regular vehicles and LEV DC chargers for light electric vehicles requiring fast charging.

2.2 In-House Manufacturing

With the Rs 7 crore funding, Evamp will invest in domestic manufacturing of AC and LEV DC chargers, enabling:

• Reduced dependency on external suppliers.
• Faster production scale-up.
• Cost optimization and improved margins.

Vertical integration positions Evamp to maintain quality standards and respond quickly to the growing demand for EV infrastructure.

3. Funding Details

3.1 Investment Round

Evamp Technologies raised Rs 7 crore in its first funding round from undisclosed investors. The capital reflects investor confidence in Evamp’s scalable business model and the rising potential of India’s EV ecosystem.

3.2 Allocation of Funds

The startup plans to use the funds across multiple initiatives:

1. Expansion of Charging Network – Deploy additional stations across cities, highways, and commercial hubs.
2. In-House Manufacturing – Establish facilities for AC and LEV DC charger production.
3. Technology Enhancements – Upgrade app-based services for better user experience, including payment integration and real-time availability updates.
4. Operational Scaling – Hire additional workforce and enhance infrastructure management.

This strategic allocation aims to maximize market penetration, operational efficiency, and long-term sustainability.

4. Products and Services

4.1 Mobilane Charging Network

Evamp offers a variety of charging solutions under the Mobilane brand:

• AC Chargers – For home and commercial setups; standard charging speed.
• LEV DC Chargers – Fast charging for light electric vehicles like e-bikes, scooters, and 3-wheelers.
• App-Integrated Services – Mobile app to locate stations, monitor charging status, and process payments seamlessly.

4.2 Franchise Opportunities

Evamp’s franchise program provides:

• Complete Charging Station Setup – Hardware and software ready for operations.
• Training & Support – Operational guidance for franchise owners.
• Brand Leverage – Access to Mobilane’s marketing and user base for better traction.

This dual approach of owned and franchised stations allows Evamp to scale efficiently while maintaining service quality.

5. Industry Context and Growth Trends

5.1 EV Adoption in India

India is witnessing a rapid shift towards electric mobility, driven by government incentives, environmental concerns, and innovation in EV technology.

• Two-wheelers dominate the EV market, but adoption of four-wheelers and commercial EVs is accelerating.
• EV demand is expected to grow at a CAGR of 36 to 40% over the next five years, creating a surge in charging infrastructure requirements.

5.2 Government Initiatives

• FAME II Scheme: Subsidies for EV buyers and infrastructure deployment.
• State Policies: Various states offer additional incentives to boost EV adoption.

These policies are encouraging private players like Evamp to invest in charging infrastructure expansion and manufacturing.

5.3 Market Potential

The EV charging infrastructure market in India is projected to reach $2.5 to 3 billion by 2026, with urban centers, highways, and commercial hubs witnessing the highest demand. Companies like Evamp are positioned to capitalize on early mover advantage and technology integration.

6. Competitive Landscape

6.1 Direct Competitors

Evamp Technologies operates in a fiercely competitive EV charging landscape, where every Charge Point Operator (CPO) is vying for reliability, speed, and user trust. Key rivals include Tata Power EZ Charge, Fortum Charge & Drive, and Magenta Power, each bringing their own strengths in coverage, technology, and operational experience. Standing out requires not just network expansion, but superior user experience, strategic locations, and innovative service offerings, all areas where Evamp is making its mark.

Evamp differentiates itself by profitability before funding, franchise expansion model, and app-based user experience.

6.2 Indirect Competitors

• Home Charging Solutions – Personal EV chargers.
• Workplace Chargers – Corporate setups for employee vehicles.
• Public Charging Stations – Government or private standalone points.

Evamp’s strength lies in integrating owned stations, franchises, and advanced technology to create a seamless charging ecosystem.

7. Achievements and Milestones

• PAT Positivity Pre-Funding – Evamp is among the few CPOs in India to achieve profitability before external funding.
• Network Expansion – Mobilane operates in major urban and highway locations with app-integrated solutions.
• Investor Confidence – Rs 7 crore funding validates the startup’s business model and growth potential.

8. Learning for Startups and Entrepreneurs

Evamp Technologies offers key lessons for Indian startups:

1. Align with Sustainability – Businesses aligned with environmental goals attract funding and users.
2. Vertical Integration – Manufacturing in-house reduces costs and increases quality control.
3. Scalable Franchise Model – Franchising enables rapid expansion without heavy capital expenditure.
4. Profitability Before Funding – Demonstrates business viability and builds investor trust.

Startups should focus on innovation, operational efficiency, and long-term value creation while maintaining financial discipline.

Foundlanes Perspective

Foundlanes is a dedicated platform covering Indian and global startup trends, investor insights, and emerging business stories. Evamp Technologies’ recent funding highlights the dynamic growth of India’s EV ecosystem and the opportunities for startups innovating in clean energy, smart mobility, and infrastructure solutions.