Pune-based electric cycle startup EMotorad has successfully secured Rs 164 crore in a Series B funding round, with Panthera Growth Partners leading the investment.
The newly raised capital will be directed towards the development of technologically advanced smart electric cycles and expanding the company’s presence to various international markets.
Other participants in the funding round include xto10x, Alteria Capital, Green Frontier Capital, and existing investors.
EMotorad, founded in 2020, has achieved significant revenue returns of over Rs 300 crore in just three years, selling more than 80,000 electric cycles.
The funding will support the brand’s global expansion and showcase Indian innovation on a broader stage, according to EMotorad Founder and MD Rajib Gangopadhyay.
Shilpa Kulkarni, Founder and General Partner at Panthera Growth Partners, emphasized the team’s vision to build a dominant micro-mobility company globally.
