Mumbai-based Chargein, which manufactures uniquely shaped smartphone powerbanks, has secured $100,000 from a family office of Pittie Group, a Pune based industrial group. As part of the deal, Aditya Pittie, CEO, Pittie Group, will join the board of the company.
As per a VCCircle report, the raised funding will go towards research and development of a product that can charge mobile phones on solar energy, and will also be invested in expanding its SKUs as well as for marketing and distribution.
Founded about five months ago, Chargein manufactures power banks in the shape of high-end cars with a capacity of 5,200 mAh. Currently, the firm has four SKUs that are sold through online marketplaces for Rs 1,600, the company has sold about 500 units till now.
Pittie Group had also invested in Yogurbay, and has interests in real estate development, media & entertainment, ecommerce and FMCG.