NIKOL EV, an electric vehicle (EV) startup, has successfully secured an undisclosed sum in a pre-seed funding round led by EvolveX, an early-stage program established by We Founder Circle. This funding round also saw participation from notable investors, including Vikas Aggarwal, Neeraj Tyagi, and Bhawna Bhatnagar.

The primary objective for NIKOL EV is to utilize this funding to bolster its team and establish a robust backend support system, a crucial component for scaling its business operations. Additionally, the company has ambitious plans to develop a hybrid charger capable of simultaneously charging 2-wheelers, 3-wheelers, and 4-wheelers. Part of the funds will be allocated to testing and certification of this innovative charging solution.

NIKOL EV is dedicated to building an extensive EV charging infrastructure across the country, with a strong emphasis on providing innovative and sustainable charging solutions. Their customer-centric approach aims to ensure a seamless charging experience for EV users.

The limited availability of charging stations and the persistent challenge of range anxiety have been barriers to widespread EV adoption. EvolveX recognizes these challenges and is committed to addressing them by investing in startups like NIKOL EV. Bhawna Bhatnagar, Co-Founder of EvolveX, stated, “With their commitment to enhancing accessibility and uptime of EV charging stations, NIKOL EV emerges as a key driver of mass-scale EV adoption, contributing to a cleaner, sustainable transportation landscape.”

EvolveX has previously invested in a diverse range of startups, including UcliQ (a B2B marketplace for chicken and seafood), PrintBrix (an all-in-one branding and promotional platform), EVINDIA (an EV social commerce startup), Metabook XR (a VR learning platform for K12 students).