Perth-based EV charging network startup Wevolt has announced the completion of a $2 million pre-seed round capital raise.
The funding will support the team’s plans to grow and increase accessibility to Australia’s electric vehicle (EV) charging network. Wevolt provides access to AC and DC charging ports together with a payment system for residential and commercial charge point owners.
Wevolt CEO Jagroop Gill said he was thrilled to announce this capital raise.
“We appreciate the support that has come from our investors who recognise the immense potential of Wevolt’s footprint.
“Wevolt was founded in 2022 to fill Australia’s EV infrastructure gap. [Our] software – in the final stages of beta testing – has begun receiving transaction fees from chargers in Perth.
We have been pleased by the interest received from charge point management companies and have already entered into commercial agreements.
Jagroop Gill
It will be an honour to officially launch into the local EV market in August and witness the positive impact of our cutting-edge technology.
Wevolt is supported by an advisory board comprising prominent individuals in the electromobility and technology sectors, such as Tommy Shin, Chairman of Wevolt Advisory Board, and Non-Executive Chairman, Lateral, Hon. Michael Keenan, Former Commonwealth Minister for Digital Transformation and Human Services and Professor Thomas Braunl, School of Engineering and Project Director Renewable Energy Vehicle Project (REV), UWA.
The platform – which leverages digital mapping – provides EV drivers with access to detailed charging information, making it easy to locate a convenient, reliable charging station.
The software also enables charge point owners to self-manage the use of their chargers and receive real-time payments.
“We are passionate about the adoption of sustainable transportation and seek collaborations with strategic local, national, and international partners within the EV community, to enhance Australia’s experience with EV technology,” said CEO Jagroop Gill.
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