Orxa Energies, a Bengaluru-based EV startup, gained fame after it completed an all-India ride on its electric motorcycle, christened ‘Mantis. Orxa Energies claims it took time to research the Indian two-wheeler market and decided to go the performance motorcycle route. The Mantis will be launched in India by Orxa Energies in the near future.
Orxa Energies still has not set up its manufacturing plant, despite the fact that it plans to sell approximately 5,000 units within the first year. Although the company has raised money in the past, this latest round of funding from SAR will be the largest. This will allow Orxa to accelerate the launch of the Mantis for Orxa.
SAR has several businesses, including Lectrix E-Vehicles, an electric two-wheeler company. Orxa Energies will be able to use the funding in three ways. It will help accelerate the launch and construction of the Mantis and the new facility. It will also assist with certifications and production readiness for the e-motorcycle. Orxa Energies has signed all the contracts. Ranjita Ravi (Co-founder), Orxa Energies says that “we should be moving to a new manufacturing facility within a few months.”
In a few months, the EV manufacturer will move to its new manufacturing plant. It will also house its R&D Centre. Orxa is committed to staying true to its roots and putting engineering first. If demand increases, the facility can produce up to 50,000 units annually. However, Orxa wants to concentrate on smaller quantities for now and then scale up slowly.
Orxa will benefit from the SAR group’s knowledge about the market, distribution and supply chain in order to launch its first product. Both companies will be able to collaborate on early-stage EV technology that will allow the company to develop future products, such as more electric motorcycles. SAR group will also be a major shareholder in Orxa Energies.
Orxa Energies has said that it has received many inquiries about the Mantis via social media and emails, but has not yet started accepting pre-bookings. The Mantis pre-bookings will be open in the next financial calendar and deliveries will follow shortly thereafter. Orxa plans to approach customers directly for sales, at minimum for the first 1,000 units, before opening dealerships.
Orxa Energies is currently in three rounds of funding. Next year, they will seek additional funding to fund the development of electric two-wheelers. These will be competitive with motorcycles ranging from 200cc to 300cc.