New Delhi December 26, 2019: growX ventures have invested in Cell Propulsion (CP), a forerunner in the deployment of Electric LCV & electric Bus solutions, as part of the EV Accelerator the program being conducted by Gurgaon based, Huddle. Other investors that have invested in CP include Endiya Partners, Sangam Ventures, CIIE (IIM-A).
The EV accelerator program by Huddle is the first dedicated acceleration program for EV companies in India. As part of this program, CP will work closely on strategy with Huddle team and gain access to contextual business development and pilot opportunities while also getting to work with other Huddle partner companies, which include corporates and organizations working in and towards the EV ecosystem.
Quoting Paras Kaushal, Founder & COO of CP – “A major the obstacle for the adoption of Electric Commercial Vehicles is the lack of local support ecosystem and the indigenous availability of core technologies. We are focused on solving these issues and this investment will enable us to quickly bring our solutions to the market.”
Throwing light on the opportunity, Ishaan Khosla, Co-Founder & Partner at Huddle, stated, “By targeting use-cases around commercial vehicles, Cell Propulsion is bringing value to one of the most important segments of the EV value chain. We will be working closely with the team to partner with the right set of organizations to drive this revolution in India.”
“Solid team; real problem; large opportunity, mostly unaddressed. We’re happy to be part of this journey,” added Sheetal Bahl, Partner at growx.