Trouve Motor will raise around $3 million in seed funding with the help of FasterCapital’s ‘Raise Capital’ program. The company also plans to launch electric cars and motorcycles by 2023 under its own brand.
FasterCapital is a leading venture capital firm in Dubai that will help Trouve Motor to connect with its network of angel investors. Trouve Motor plans to raise around $25 million by the end of 2022.
Arun Sunny, founder, Trouve Motor said, “ We aim to make EV transition seamless for ICE users and aspire to transform how electric bikes are viewed by augmenting user experience via advanced technologies like AI and blockchain. We need strong investor support to make this vision a reality, and this is where FasterCapital will assist us.”
Hesham Zreik, CEO, FasterCapital added, “Our team will work with the team at Trouve on preparing and creating the right pitching materials, and then we will match the project with the right funding sources to help it raise the money needed as soon as possible.”
The company plans to launch its electric hyper-sports superbike with various features like GPS navigation, Brembo brakes with dual-channel ABS, adjustable suspension, laser lighting package, LED advanced infotainment display, and real-time vehicle diagnostic.
