Magenta, an Indian Charge Point Operator (CPO) company, has signed an MoU with BSES Rajdhani Power Limited and BSES Yamuna Power Limited, to deploy innovative EV charging solutions across Delhi. The EV charging solutions that will be deployed under this MoU will be customized basis the requirements of various segments of customers.
The partnership allows both companies to address challenges in the deployment of EV charging solutions. Challenges, such as low utilisation of EV charging infrastructure and the long-term impact of the increase in the number of EV users on the power distribution network can be analysed and addressed through the work carried out under this partnership. The findings will help in improving and launching similar EV charging solutions and models in other parts of the country as well.
Magenta’s charging solutions are mobile application enabled (OCCP based) and come with other user-friendly features. All charging stations to be deployed under this partnership will be managed and operated through Magenta’s in-house software application – “ChargeGrid”. The application enables EV customers to continuously monitor electricity usage and wallet deductions during charging sessions. The customers can also track the real-time availability of the chargers and approach the nearest available charging stations for a seamless charging experience.
Apart from this solution, Magenta also launched Portable EV Charging Stations, for the Mumbai – Pune Expressway, and ChargeGrid App, an integrated and automated network of all charging stations on Mobile. The company was seed-funded by HPCL in 2018 and incubated by Shell. In 2019, Magenta was backed by the Microsoft Startup Program. In 2020, Magenta had raised pre-series funding from JAN (JITO Angel Network) and LetsVenture and in May 2021, Magenta announced that it had closed its Series A funding by DR Kiran Patel.
