EMotorad is an electric bike startup that has raised Rs 24 Crore in Pre-series A financing led round by Green Frontier Capital (GFC), a company that specializes in climate investment, LetsVenture, and Ivy Growth.
EMotorad plans to use the funds to increase business growth, scale the company and hire top industry professionals. EMotorad plans to add tech to the existing ebike to give users access to a unique platform that focuses on community and health.
According to the company, it has sold more than 35,000 units. It also claims that its production capacity is 90,000+ units per year. This number is expected to rise to 2 lakhs by next year.
Kunal Gupta – Co-founder & CEO of EMotorad said, “We have always believed in the power of e-bikes to optimize health efficiency. We wish to design products and technology in such a way that it places itself in the user’s journey to becoming healthy.”
Sandiip Bhammer, the managing partner of Green Frontier Capital, said, “At GFC, we are really excited about our investment in EMotorad. What struck us the most is the pace at which they were able to expand the business across geographies in just 2 years of existence, not only this the technology they are building on the top of their bikes a game changer, it will change the way people cycle.”
EMotorad stated that it plans to enhance the digital and offline journeys for its customers through exclusive brand outlets as well as a strong business to customer presence.
EMotorad received a lot of international attention since its inception 2 years ago. The company has established a strong presence worldwide and plans to expand its operations in new regions. It also plans to strengthen its presence in existing markets such as Australia and Europe.
