Total amount raised
₹2.1 Billions
Latest funding date
11/1/2023
Location
EMotorad has successfully raised funding through multiple rounds, with notable investors such as Panthera Growth Partners and xto10x Technologies backing the company. The company specializes in providing electric bikes for adventure seekers, daily commuters, and casual riders.
Keep reading to explore the intricacies of EMotorad's fundraising journey and the investors supporting this innovative electric vehicle company.
What Is EMotorad?
Founded in 2020, EMotorad is an electric vehicle company based in Pune, Maharashtra, India. The company was established by Aditya Oza, Kunal Gupta, Rajib Gangopadhyay, and Sumedh Battewar.
EMotorad specializes in offering a range of electric bicycles designed for adventure seekers, daily commuters, and casual riders. Their products include models like T-Rex Pro, T-Rex+, and foldable e-cycles.
With a team of 101-250 employees, EMotorad aims to provide top-quality electric cycles at affordable prices, featuring pedal assist, throttle, and durable frames.
How Much Funding Has EMotorad Raised?
- Seed Round
- Amount Raised: ₹225M
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Seed Round
- Amount Raised: ₹240M
- Date: October 2022
- Lead Investors: Green Frontier Capital, Ivy Growth Associates, LetsVenture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance market presence.
- Debt Financing
- Amount Raised: ₹200M
- Date: November 2023
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support operational growth.
- Series B
- Amount Raised: ₹1.4B
- Date: November 2023
- Lead Investors: Panthera Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop smart electric cycles, enhance manufacturing capabilities, and expand offline presence in key markets.
Total Amount Raised: ₹2.065B. Current Valuation: Not publicly disclosed.
Key Investors
- Panthera Growth Partners
- Details: Panthera Growth Partners is a growth equity firm based in Singapore, founded in 2021. They focus on investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology-led businesses, new economy consumption, companies in India and Southeast Asia.
- Notable Investments: BigBasket, Pepperfry, OfBusiness.
- Alteria Capital
- Details: Alteria Capital is a venture debt firm that provides structured debt solutions to high-growth companies. They are known for supporting startups with financial stability and growth capital.
- Investment Focus Areas: Venture debt, growth capital, high-growth startups.
- Notable Investments: Not publicly disclosed.
- Green Frontier Capital
- Details: Green Frontier Capital focuses on sustainable and impact investments. They aim to support companies that contribute to environmental sustainability and social impact.
- Investment Focus Areas: Sustainable businesses, eco-friendly technologies, impact investments.
- Notable Investments: Not publicly disclosed.
- xto10x
- Details: xto10x is a startup scale-up platform founded by Binny Bansal, co-founder of Flipkart. They provide resources and support for scaling startups.
- Investment Focus Areas: Technology-driven startups, scaling operations, growth support.
- Notable Investments: Not publicly disclosed.
- LetsVenture
- Details: LetsVenture is a platform that connects startups with investors, facilitating funding and growth opportunities. They have a strong network of angel investors and venture capitalists.
- Investment Focus Areas: Startups, early-stage companies, various sectors.
- Notable Investments: Not publicly disclosed.
What's Next for EMotorad?
EMotorad stands at the cusp of significant growth opportunities, driven by the development of smart electric cycles and the expansion of their manufacturing capabilities. With a strong presence in 18 countries and plans to enter major European markets, the company aims to increase its sales to 100,000 electric cycles by FY25. This ambitious target is bolstered by the recent $20 million Series B funding round, which will also support their offline market expansion.
Future fundraising opportunities seem promising as EMotorad continues to scale and innovate. Achieving EBITDA profitability within the next 24 months could attract further investments, enabling the company to enhance its technological capabilities and market reach. However, challenges such as scaling manufacturing, maintaining technological innovation, and navigating regulatory environments in new markets remain. Competition from other electric vehicle manufacturers and the need to establish a strong offline presence will also test EMotorad's resilience and strategic planning.
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