BUSINESS BRIEF
Project Lightning provider of fully indigenous, smart EV charging products and services, focusing on the high-growth DC Fast Charging market for light EVs (2W/ 3W) and electric four-wheelers. The core business model is a full-stack solution integrating proprietary hardware, software, and services to maximize asset lifetime value and recurring revenue capture. The leadership team comprises seasoned professionals with over 50+ years of collective experience in Product Development and Production.
Key Highlights:
- Recurring Revenue Model: Built for long asset life, with a projected 26% of Charger Lifetime Value (LTV) coming from high-margin Annual Maintenance Contracts (AMC) and Spare Part Support.
- Scale & Deployment: Products are deployed across 210+ locations Pan India and scaling to 1,000+.
- Market Opportunity: Focused on the DC Charging market TAM, which is 5x the AC Charging market TAM, and addresses a total of 1,750 k+ DC Fast Chargers required in the focus segments by 2030.
NOTE: Dilution - valuation in progress
Products & Services
-
DC Fast Chargers for 2W, 3W, and 4W vehicles
-
Charge Controllers and OCPP-compliant Communication Modules
Proposal
Industry
Electric Vehicles (Infrastucture)
Sub Industry
Battery Charging Station & EV Charging Stations
Nature of Business
B2B
Sector
Services
Location
India
Region
Southern
Open For Dilution
20 %
Top Customer
Ask
INR 30 Cr
End use of fund
The company is strategically focused on the $2.4B+ Indian market (2025-2030) for DC Fast Chargers across OEM-Infra and Last Mile Delivery segments.
Business Operation Information
Financial Information |
2025 (in INR Cr) | 2024 (in INR Cr) | 2023 (in INR Cr) |
|---|---|---|---|
Sales |
3.64 | 1.94 | 1.78 |
EBITDA |
|||
PAT |
