SOLshare Secures $2.2 million Investment For EV Integration

Ather Energy Partners With TIIS For EV Workforce Skilling

SOLshare, a climate-tech company based in Dhaka, has recently secured an investment of $2.2 million in Series A+ funding led by SBK Tech Ventures as part of a $4 million round, according to a press release. The company claims that the integration of electric cars into the Blue Dart fleet is likely to bring significant environmental benefits, with CO2 emissions reduced by around 15.05 tons per month.

The company’s sustainability agenda highlights initiatives such as planting more than 1,11,000 trees each year. The measure is projected to offset more than 13,320 tons of carbon dioxide emissions per year when those trees reach maturity. SOLshare is currently developing the country’s first virtual power plant, Rickshaw VPP, which can buffer up to 30% of the country’s grid peak load, the press release said. This is a critical part of the journey to net zero, the firm added.

Sebastian Groh, managing director and CEO of SOLshare, commented, “At SOLshare, we believe that with SBK Tech’s backing, we will transform electric vehicles from a grid burden into a valuable asset in Bangladesh & beyond. This shift will benefit millions of low-income electric three-wheeler drivers by increasing their earnings.”

SOLshare was founded in 2014~2015, consisting of a team of tech pioneers fully based out of Dhaka. Our globally recognized SOLbazaar has developed into an energy marketplace to fight access deficits to sustainable energy services. Via our SOLbazaar platform, equip vulnerable communities with awesome energy services, creating synergies between energy and transport to provide access to clean affordable energy, micro-mobility services, financially inclusive PAYG technology and IoT devices, and C&I solar rooftop installations.