Hyderabad-based RACEnergy, an electric vehicle infrastructure startup, announced that it has raised a Seed round of $1.3 million. The startup will use the funding to enhance R&D, scale the company’s swapping technology and infrastructure, and fulfill the pre-orders.
Led by Micelio Fund and growX ventures, along with investments from Huddle, Prophetic Ventures, BITSian Angels, and other angel investment firms, the funds will be used to enhance R&D, scale the company’s swapping technology and infrastructure, and fulfill the pre-orders received in Hyderabad and surrounding Tier-II cities.
