Plugzmart, Chennai-based EV charger maker startup has raised Rs. 3.63 crores in a seed round led by early-stage VC BlueHill Capital and followed by investors such as Meera Reddy of SKCL, Kartik Meyyappan, L. Ramkumar, Sivadas Raghava, and Shailaja Reddy.
The funds for R&D and development, as well as scaling up production, will be used by the company to support the company’s large order pipeline.
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Founded in 2018 by Vivek Samaynathan and Ragavendra Ravichandran, Plugzmart (Meras Plugins Pvt. Ltd.) is an Original Equipment Manufacturer (OEM) of electric vehicle chargers and SAAS provider of electric charging infrastructure. It has built its own IOT-enabled smart EV charging management system to integrate and communicate efficiently with chargers. Their portfolio of nine products includes chargers for two, three and four-wheelers.
Plugzmart is a SaaS provider of electric vehicle charging infrastructure and an original equipment manufacturer (OEM) of electric vehicle chargers. Incubated at IIT Madras in 2019, Plugzmart has developed its own IoT-enabled smart EV charging management system to integrate and communicate effectively with chargers. Its nine-product portfolio includes chargers for two-, three, and four-wheelers.
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