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Startup Update

ABB acquires controlling stake in EV charging startup Numocity

2022-05-25 | India

Numocity provides electric vehicle charging solutions, current investors Ideaspring Capital and Rebright Pte to exit the company 


Source


Notes by Narsi

I have been wondering for a while about the future business & growth models for pureplay EV charging technology startups in India.  Not sure about all the attractive options they have given that international firms also offer EV charging solutions in India. There is a likelihood that there will be more acquisitions in this space and that might not be a bad thing for the startups, IMHO.


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