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eBikeGo, an Indian electric bike startup completes $5 million in funding from domestic and international investors and it plans to now raise $25 million more.
The funds raised will help eBikeGo to launch Muvi and trike Velocipado electric scooters next year. Between March-April, eBikeGo secured funding of $3.5 million from Arab investors. The company as of now has secured $5 million in funds.
“Now, the company is aiming to raise USD 25-million further,” eBikeGo said.
“With this investment, we hope to launch our proven EVs such as Muvi and Velocipedo and have a significant influence on the present status of electric mobility. We as a company are working towards becoming a robust OEM and thus, we aspire to drastically reduce carbon footprint not just in India but on a worldwide scale” said Irfan Khan, Founder –CEO, eBikeGo.
eBikeGo has deployed 2000 electric two-wheelers over the last 3 years on the B2B platform. The company is working on localizing electric vehicles to make these suitable for Indian conditions.