Kerala-based charge MOD, a provider of electric vehicle (EV) charging solutions, has secured 2.5 crore in a Pre-Seed Round of funding from Phoenix Angels, a Thrissur-based angel network, as announced by the startup. This new funding infusion will enable chargeMOD to expedite the growth of its product offerings, which encompass a 3.3 kW AC charging device for home use and a 60 kW charging station catering to commercial applications.

Founded in 2019 by M. Ramanunni, V. Anoop, Advaith C, and Chris Thomas, chargeMOD operates as a subsidiary of BPM Power Private Limited. It emerged from incubation under the Kerala Start-up Mission (KSUM), a government agency in Kerala dedicated to fostering entrepreneurship and incubation activities.

chargeMOD has developed EV charging points tailored for residential and commercial settings. Their mobile app facilitates the discovery of nearby charging stations, with a focus on providing reliable and convenient solutions for EV owners. The startup has executed notable projects in collaboration with industry leaders such as Larsen & Toubro, Murugappa Group, Kerala State Electricity Board (KSEB), and Kochi Metro Rail Limited.

With claims of being a prominent player in the Indian EV charging sector, chargeMOD manages a system of over 2,000 chargers and holds a substantial 90% market share in Kerala’s EV charging landscape.

Phoenix Angels, the funding provider, operates as a Kerala-based angel network established by Shiraj Jacob, Joe Ranji, and Harikrishnan V. This network differentiates itself by not taking a share in investor profits. Instead, Phoenix Angels operates on a fixed annual membership model that entails a joining fee collected from all members. In summary, chargeMOD’s recent funding from Phoenix Angels will facilitate the growth of its EV charging solutions, consolidating its position as a major player in the industry.