IAN Group Leads ₹22 Crore Investment in Chargeup to Expand EV Driver Platform

IAN Group has invested in Chargeup’s ₹22 crore funding round, alongside Cap-A and existing investors. The funding will support Chargeup’s expansion into high-demand markets and strengthen its technology platform for drivers, NBFCs, and operations across EV-focused markets.

Chargeup, founded in 2019 by Varun Goenka and Satish Mittal, works with India’s last-mile EV drivers. The platform enables loan security for lenders and earning security for drivers, aiming to improve income and reduce vehicle downtime. Chargeup has onboarded over 10,000 drivers and plans to add 20,000 more by FY27.

The company operates in a growing market estimated at $12 billion, driven by the adoption of electric three-wheelers for logistics and passenger transport. The investment aligns with IAN Group’s focus on technology-led businesses that support financial inclusion, asset efficiency, and sustainable mobility. Chargeup aims to build the operational and financial backbone for India’s EV ecosystem.

Varun Goenka, Co-founder & CEO, said, “Chargeup is building a high-growth, profitable company focused on empowering last-mile drivers with better earnings and financial security. The IAN Group’s investment will accelerate our journey toward our Mission Million milestone, enabling a million drivers to become financially independent.”

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