Blaer Motors, which is an NIT Trichy-incubated startup based in Chennai, has raised Rs 2.61 crore from The Chennai Angels (TCA). Blaer Motors will be utilizing this fund mainly for infrastructure development, strengthening of our R&D team and technology development.
Blaer Motors was founded by four engineering students that builds and develops technological solutions in the transportation and mobility space. Blaer has been working on hybrid and electric drivetrain solutions for two-wheelers and three-wheelers and collaborating with multiple OEMs for commercializing the drivetrain solutions.
The startup said its focus is to further optimize our hybrid technologies for motorcycles and expand our product portfolio into three-wheelers and LCVs.
Abinesh Ekambaram, co-founder, Blaer Motors, said that this is their first round of external investment and they are very excited about this partnership with The Chennai Angels who share their vision towards sustainable mobility. They are thankful to the investors for believing in Blaer and value their expertise in the automotive industry, which will help Blaer to further their products and business strategies and strengthen the position in the market,”.
Vasantha Kumar, head business development, ABAN Infrastructure, and TCA’s investment director-led this round of fundraise, commented that Blaer Motors came across as an innovation-driven and technologically robust company working on developing hybrid technology for two & three-wheeler vehicles. This hybrid technology will help in both enhanced performance and fuel efficiency of the vehicles.