Indian electric vehicle charging technology startup Ionage has raised $1.3 million in a Pre-Series A funding round led by strategic investors and a consortium of senior executives from global energy and infrastructure companies. Announced on October 7, 2026, the investment will support the company’s efforts to improve EV charging accessibility, payment integration and network reliability across India.

Ionage operates an asset-light software platform that connects charge point operators, fleet operators, property owners and EV drivers through a unified charging ecosystem. The company aims to address fragmentation in India’s charging infrastructure by enabling users to discover charging stations, access different networks and complete payments through integrated digital services.

The platform has onboarded more than 25,000 four-wheeler charging points and supports over 63 fleets. Its network includes more than 75 charging partners across 33 Indian states and Union Territories, covering nearly 3,000 cities.

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Ionage Secures $1.3M to Expand EV Charging Network Interoperability

The $1.3 million Pre-Series A investment will support Ionage’s plan to expand its platform coverage to 100% of active EV charging networks in India, with particular emphasis on integrating small and medium-sized charge point operators.

Rather than building and owning physical charging stations, Ionage focuses on developing the software infrastructure required to connect existing networks. Its interoperability model is designed to simplify charging access across operators, similar to how India’s Unified Payments Interface (UPI) enables transactions between different banks through shared payment infrastructure.

The company works with restaurant owners, fuel station operators, real estate developers, housing societies and commercial fleet operators to improve charging network accessibility and coordination.

Ionage CEO Vimal Kumar V said that India’s EV charging challenge extends beyond installing additional infrastructure. He emphasized the need for a reliable system connecting charging operators, vehicle manufacturers, property owners and drivers to ensure stations can be located, accessed and paid for consistently.

Ionage Connects Over 25,000 Charging Points Across India

Ionage has established a nationwide network connecting more than 25,000 four-wheeler charging points and over 75 charging partners. The platform operates across 33 states and Union Territories, reaching nearly 3,000 cities and supporting more than 63 commercial fleets.

According to the company, its network connects more than 70% of India’s charging hardware at installation, reflecting its growing presence within the country’s EV charging ecosystem.

Ionage reports month-over-month growth exceeding 25% and expects to process more than 20 million units of energy throughput per month within the next 12 months.

The company plans to build on this growth by integrating additional charging networks, particularly smaller operators that may lack the technical infrastructure required to connect with larger EV charging platforms.

Addressing India’s EV Charging Infrastructure Challenges

India’s public EV charging infrastructure has expanded nearly sixfold since 2022, supported by rising electric vehicle adoption and government initiatives. However, charging availability, reliability and interoperability remain significant challenges.

According to figures cited by Ionage, nearly two out of every five public charging stations in India are non-functional, while the country currently has approximately one charger for every 235 electric vehicles. This compares with a cited global benchmark of one charger for every six to 20 EVs.

Research from the Confederation of Indian Industry (CII) and the Observer Research Foundation (ORF) indicates that India will require more than 1.32 million public charging stations by 2030 to support its expanding EV market.

Government initiatives, including FAME, PM E-DRIVE and production-linked incentive programmes, are expected to support further investment in electric mobility and charging infrastructure.

Ionage aims to address existing network fragmentation by creating a common technology layer that improves charging station discovery, payment processing and operational coordination without requiring operators to replace their existing infrastructure.

Expanding AI-Powered Charging and Energy Management Solutions

Ionage offers several products designed to support different participants in the EV charging ecosystem. Its Nexus platform provides charging point operations management, while the Ionage mobile application allows drivers to discover charging stations, plan journeys, initiate charging sessions and complete payments across supported networks.

The company’s Flo marketplace connects charge point operators and fleet users, while CASA provides home charging management capabilities. Ionage is also developing a Discovery API and business software development kit (SDK), both currently available in closed beta, to support integration with external platforms.

Alongside its charging management products, Ionage has begun incorporating artificial intelligence and machine learning into its energy management capabilities. These technologies are intended to support intelligent load balancing and energy trading across its connected network.

By combining interoperability with AI-enabled energy management, the company aims to improve infrastructure utilization and help charging operators manage energy demand more efficiently.

Ionage Targets Tier 2 Cities and Full Network Coverage

Following its Pre-Series A funding round, Ionage plans to accelerate the integration of active charging networks throughout India and strengthen its relationships with small and medium-sized charge point operators.

Over the next 18 months, the company also intends to establish and support new charging operator micro-clusters in Tier 2 urban centers, extending access to charging services beyond major metropolitan markets.

Its longer-term strategy focuses on developing a unified infrastructure layer for charging discovery, network operations and payments, helping businesses and EV drivers interact with multiple charging providers through a more consistent experience.

With $1.3 million in new capital, Ionage aims to strengthen its position in India’s EV charging technology market while supporting the development of a more connected, reliable and accessible charging ecosystem.

Indian wellness startup The Stack has raised ₹21.5 crore (approximately $2.5 million) in a seed funding round co-led by Sauce, OTP Ventures and Huddle Ventures, with participation from AYRA Ventures. The investment will support the company’s expansion in India’s supplements market through product development, team growth and wider distribution.

Founded in 2024 by Shreya Jain and Kshitij Rihal, The Stack is a Goa-based direct-to-consumer (D2C) supplements brand developing products focused on sleep, gut health and other functional wellness needs. The company emphasizes clinically studied ingredients, formulation transparency and ingredient sourcing.

The latest investment follows The Stack’s first institutional funding round in January 2026. According to the company, its business has grown fivefold in the six months since that investment, supported by customer acquisition and repeat purchases.

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The Stack Secures $2.5M to Strengthen Product Development

The ₹21.5 crore seed funding round will enable The Stack to expand its workforce, strengthen research and development capabilities and introduce additional supplements targeting specific consumer needs.

The round was co-led by Sauce, OTP Ventures and Huddle Ventures, alongside participation from AYRA Ventures. The company did not disclose its valuation following the investment.

A key priority is the launch of new iron and Omega-3 supplements, which the founders say have been under development for more than a year. These additions will expand the company’s existing portfolio beyond its current focus on sleep and digestive wellness.

The Stack plans to maintain its emphasis on ingredient quality and transparent formulations as it develops new products. The brand provides information about ingredient sourcing, manufacturing processes and certifications to help consumers understand its supplements.

Expanding Distribution Beyond Direct-to-Consumer Sales

The Stack currently operates through its own website but plans to broaden its distribution strategy by entering major e-commerce marketplaces and additional sales channels over the next 12 to 18 months.

The expansion is intended to increase product availability and help the company reach customers beyond its existing direct-to-consumer audience.

By diversifying its sales channels, The Stack aims to strengthen its presence in India’s supplements market while supporting the introduction of new products.

The company will also invest in team expansion and operational capabilities to support its growing product portfolio and distribution network.

The Stack Reports Fivefold Growth and Strong Repeat Purchases

The Stack reported fivefold business growth during the six months following its first institutional funding round in January 2026. Building on this momentum, the company is targeting six- to seven-fold growth in the financial year 2027 (FY27) compared with FY26.

Customer retention has also contributed to its growth. According to the company, approximately one in three customers places another order within six months, while its top 10% of customers generate 30% of total revenue.

The Stack uses a combination of founder-led content, performance marketing and customer referrals to attract new buyers. Its post-purchase surveys indicate that approximately 5% of orders are attributed to recommendations from doctors or therapists.

These company-reported figures highlight the role of repeat customers and referrals in its current business model as it prepares to expand into additional sales channels.

Building a Broader Portfolio of Functional Wellness Products

Established in Goa in 2024, The Stack develops supplements designed to address specific wellness needs, including sleep and gut health. Its product strategy focuses on ingredient selection, research-led formulation development and transparency around manufacturing and sourcing.

The planned introduction of iron and Omega-3 products represents the next stage of its portfolio expansion. The company intends to combine these launches with additional investment in research and development to support future formulations.

With $2.5 million in new funding, The Stack plans to strengthen its product development capabilities, expand its team and establish a broader distribution network across India.

The startup’s next phase will focus on converting its recent growth into a larger customer base while maintaining its approach to formulation quality and product transparency.

PSV Tech, a Denmark-based venture capital firm operating under PSV Venture House, has announced the final closing of its second investment fund, Fund II, at €56 million. The fund will support early-stage technology startups across the Nordic region, with a particular focus on companies developing artificial intelligence, software and digital infrastructure solutions.

The fund has attracted commitments from new investors Chr. Augustinus Fabrikker and Nordea-fonden, alongside existing limited partners including ATP, EIFO and IDA. Individual investors include Templafy founders Christian Lund and Henrik Printzlau, King co-founder Sebastian Knutsson, and Siteimprove founders Morten and Niels Ebbesen.

Launched in 2020, PSV Tech specializes in investing in startups before they achieve product-market fit, prioritizing founding teams, technical capabilities and long-term growth potential. The firm is led by General Partners Helle Uth, Richard Breiter, Alexander Viterbo-Horten and Christel Piron.

Since the first closing of Fund II, PSV Tech has completed 19 investments, including 11 previously unannounced investments made during 2026 across Denmark, Sweden and Norway.

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PSV Tech Closes €56M Fund II Backed by Institutional Investors

The €56 million final closing strengthens PSV Tech’s ability to invest in technology startups at the earliest stages of development, when companies may have limited commercial traction or established business models.

The fund introduces two new institutional investors, Chr. Augustinus Fabrikker and Nordea-fonden, while retaining support from existing limited partners such as ATP, EIFO and IDA. Its investor base also includes entrepreneurs with experience building technology companies, reflecting the fund’s connections with the Nordic startup ecosystem.

Claus Gregersen, CEO of Chr. Augustinus Fabrikker, said the investment aligns with the organization’s strategy of supporting fund managers that contribute to the development of emerging Danish growth companies. He highlighted PSV Tech’s role in providing early-stage financing and strengthening Denmark’s innovation ecosystem.

Nordea-fonden, which previously invested in PSV Hafnium, has also expanded its relationship with PSV Venture House through its commitment to Fund II. Lars Ingemann Nielsen, CFO of Nordea-fonden, said the investment reflects confidence in PSV Tech’s experience and its potential to support future growth companies while generating long-term returns.

Investing in AI, Software and Digital Infrastructure Before Product-Market Fit

PSV Tech’s investment strategy focuses on companies operating before product-market fit, when business models, products and customer demand are still being validated. At this stage, the firm places particular emphasis on the capabilities and adaptability of founding teams rather than relying primarily on established revenue or market traction.

Helle Uth, General Partner at PSV Tech, explained that early-stage investors often have limited commercial evidence available when evaluating startups. As a result, the firm’s assessment process focuses on identifying founders with complementary skills, technical expertise and the ability to respond to changing market conditions.

The firm is particularly interested in AI, software and digital infrastructure businesses, including startups emerging from research institutions and developing proprietary technologies. PSV Tech’s historical connections with the Technical University of Denmark (DTU) also provide access to engineering talent and research-driven innovation.

According to Uth, advances in AI are changing how startups operate, allowing smaller teams to develop products and reach customers without rapidly increasing headcount. However, she emphasized that technical capabilities alone may not create sustainable competitive advantages, as successful companies must also establish effective distribution strategies and integrate their products into customers’ daily workflows.

PSV Tech therefore evaluates how founders respond when initial assumptions change, particularly in technology markets where new AI models and tools can quickly alter product development and competitive conditions.

Fund II Completes 19 Investments Across the Nordics

PSV Tech has already made 19 investments through Fund II, including 11 previously unannounced investments completed in 2026 across Denmark, Sweden and Norway. The activity reflects the firm’s strategy of expanding its investment reach beyond Denmark and supporting promising founders throughout the Nordic region.

The fund builds on the performance of PSV Tech’s first investment vehicle, which backed 47 startups and recorded six exits, including Helloflow and Heyhack. Other portfolio companies, including Teton and Spektr, have subsequently secured $20 million Series A funding rounds after receiving early backing from PSV Tech.

These investments reflect the firm’s approach to supporting companies from their earliest stages through the development milestones required to attract larger venture capital investors. Beyond providing initial funding, PSV Tech works with portfolio companies to identify the operational, commercial and technical progress needed to secure subsequent financing.

Uth explained that a central part of the firm’s role involves preparing startups for growth-stage investment by understanding what international and larger venture capital funds expect to see before committing capital.

Strengthening the Nordic Startup Investment Ecosystem

PSV Tech’s second fund also supports its ambition to strengthen connections between entrepreneurs, experienced technology executives, research institutions and investors across the Nordic region.

Uth pointed to Stockholm as an example of an ecosystem where successful founders, senior executives, universities and investors have helped generate new startups and investment opportunities. She noted that similar patterns are emerging in Denmark, where experienced entrepreneurs and technology professionals are increasingly establishing new companies and supporting younger businesses.

The firm’s broader investment philosophy reflects the importance of maintaining access to capital at the earliest stages of startup development. While European venture capital discussions frequently focus on the shortage of growth-stage financing, PSV Tech argues that sustained investment in pre-seed companies is equally necessary to develop the next generation of scaleups.

The firm’s origins can be traced to an investment initiative established at DTU approximately 25 years ago to support the commercialization of research and technology. That initiative has since evolved into PSV Venture House, which has participated in nearly 500 early-stage investments.

Anders Bjarklev, President of DTU, highlighted the university’s long-standing commitment to translating research into commercial applications, emphasizing the importance of risk capital in supporting innovation, company formation and technological development.

PSV Tech Expands Early-Stage Investment Strategy With Fund II

With €56 million in committed capital, PSV Tech plans to continue backing startups developing AI, software and digital infrastructure technologies across the Nordics. The fund will focus on identifying founding teams capable of navigating uncertainty and building businesses with long-term growth potential.

Its strategy combines early financial support with guidance on product development, market validation and preparation for subsequent investment rounds. The firm also intends to use its connections with research institutions, entrepreneurs and experienced technology executives to support portfolio companies as they develop.

Through Fund II, PSV Tech aims to strengthen the availability of pre-seed financing across the Nordic startup ecosystem while maintaining its focus on companies operating before product-market fit.