2018-19A blue ocean where everyone was small. Every operator was still validating whether a charging network could work, so the only thing anyone wanted was the lowest possible opex, and Numocity billed per charger added. An ambitious network meant 5,000 charge points.
2019Ideaspring backs an unproven thesis. Naganand writes the early cheque and brings customers with it, at a point when the open question was whether electric would stay a niche idea. Siddharth calls that phase the one full of question marks.
2022A transformative year, and the market splits into four. Ravikiran dates a lot of internal change to that year; outside, the single buyer had become oil and gas, utility and telecom enterprises talking about 100,000 to 200,000 points, mid-size networks on the old playbook, a long tail of homes and apartments, and asset-light vehicle OEMs.
2024They relook at the market and how they approach it. Ideaspring comes back out of fund two, this time as a growth-stage bet rather than an early-stage one.
TodayOver two lakh customers on the platform. India, the UAE and Saudi Arabia are the top three markets, and Ravikiran puts 50 to 55 percent of India's network on their software, with the caveat that the country's charger counts are contested. They own no chargers and sell no electricity.
2030The five-year picture is the grid. Every charging session adds load a grid was never planned for, so the ambition is an end-to-end stack across vehicle, charger and grid, North America entered through embedded channel partners rather than an in-house sales team, and a top-five slot among technology vendors globally.
