BattRE, a two-wheeler mobility startup, has raised an undisclosed amount from investors led by Agility Ventures and Gajendra Chandel (ex-executive at Tata Motors).
Funds have been raised for the next phase of growth, which will see the start-up reach Rs 1,000 crore in revenue by the FY25.
BattRE was established in 2017 by Pankaj Sharma and Nischal Choudhary in Jaipur. Its mission is to promote electric mobility in India. It currently has 400+ dealerships across India, in 21 states as well as 276 towns.
“Our electric two-wheelers are riding on our strategic differentiators – deep distributor, competitive pricing, and advanced features,” stated Nishchal Choudhary Founder and CEO of BattRE.
We aim to reach every Indian District by 2025 with our ‘ahead of the curve’ products. He said that the seed fund would help us plan, execute and facilitate the next phase in our growth.
Dhianu Das (Founder, of Agility Ventures) stated that EVs are future mobility. The company is on track for $13.8 billion in market value by 2027 and growing at a 100% CAGR.
With their strong distribution network and competitive pricing strategy, we are certain that BattRE will be the dominant two-wheeler company in this segment. “We are certain that BattRE would be one of the top four E2W businesses in India by FY 23-24,” stated Das.
Gajendra Chandel, the ex-president of Tata Motors, stated that automotive is one of the five most important high-growth industries in India. EVs are leading this growth in the start-up ecosystem.