HPCL & Shell-backed Magenta EV Solutions closes Series A round from Florida-based billionaire Kiran C Patel SECTIONS HPCL & Shell-backed Magenta EV Solutions closes Series A round from Florida-based billionaire Kiran C PatelET Bureau Last Updated: May 21, 2021, 10:37 AM IST Share Synopsis Seed funded by HPCL & incubated by Shell, ChargeGrid is also backed by the Microsoft Startup Program to further boost its advanced technology platform. Currently operating in 10+ cities, ChargeGrid has signed multiple high-value customer contracts and continues to rapidly expand with many new contracts signed in just the last 3 months. Reuters Magenta aims to smart-charge 30% of all Indian EVs amounting to 3000 GW.hr of power annually by 2030.