Total amount raised
$1 Millions
Latest funding date
6/1/2024
Location
Revamp Moto has successfully raised funding through multiple rounds, attracting a diverse group of investors. The company specializes in electric bikes built on modular utility platforms, offering innovative solutions for various transportation needs.
Keep reading to explore the intricacies of Revamp Moto's fundraising journey and the investors backing this forward-thinking company.
What Is Revamp Moto?
Revamp Moto, founded in 2020, is based in Nasik, Maharashtra, India. The company specializes in electric bikes built on modular utility platforms, offering innovative solutions for various transportation needs.
With a team of 11-50 employees, Revamp Moto focuses on creating electric vehicles that are connected, reliable, and adaptable. Their product lineup includes the RM Buddie 25 and RM Mitra 02, along with various modular attachments for different business purposes.
Although the founders' names are not explicitly mentioned, the company's mission is clear: to provide cost-effective and efficient transportation solutions that positively impact lives.
How Much Funding Has Revamp Moto Raised?
- Pre-Seed Round
- Amount Raised: $1M
- Date: May 2022
- Lead Investors: Shastra VC, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire top talent, develop products, and establish pre-launch partnerships to meet rising demand.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2024
- Lead Investors: Peaceful Progress
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at scaling production, expanding the product line, and enhancing modular utility platforms.
Total Amount Raised: $1M
Current Valuation: Not publicly disclosed
Key Investors
- Peaceful Progress
- Details: Peaceful Progress is a venture capital firm known for its strategic investments in early-stage startups. They focus on providing not just capital but also mentorship and network support.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Not publicly disclosed
- Shastra VC
- Details: Shastra VC is a prominent venture capital firm that invests in innovative startups with high growth potential. They are known for their hands-on approach in guiding startups to success.
- Investment Focus Areas: Fintech, edtech, healthtech
- Notable Investments: Not publicly disclosed
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that provides funding, mentorship, and network support to startups. They have a strong track record of nurturing early-stage companies.
- Investment Focus Areas: Fintech, healthtech, consumer services
- Notable Investments: Beardo, PeeSafe, Supr Daily
- IDBI Capital
- Details: IDBI Capital is a financial services company offering a range of investment banking and financial advisory services. They participate in funding rounds to support the growth of promising startups.
- Investment Focus Areas: Financial services, infrastructure, technology
- Notable Investments: Not publicly disclosed
- Aman Gupta
- Details: Aman Gupta is the co-founder of boAt, a leading consumer electronics brand. He is also a well-known investor from Shark Tank India, where he has backed numerous startups.
- Investment Focus Areas: Consumer electronics, technology, innovative startups
- Notable Investments: boAt, various startups featured on Shark Tank India
What's Next for Revamp Moto?
Revamp Moto stands at the cusp of a significant opportunity, with the potential to revolutionize transportation for micro-entrepreneurs in India. The company aims to address the mobility needs of delivery agents, milkmen, and street vendors through its innovative electric two-wheelers, RM Mitra and RM25. With plans to produce 50,000 vehicles by the end of 2022, the market potential is vast, driven by the growing demand for sustainable and efficient last-mile delivery solutions.
As the electric vehicle market in India continues to expand, Revamp Moto is well-positioned for future fundraising rounds. The company may attract additional investment to scale production, enhance product features, and expand its market reach. However, challenges such as competition from other EV manufacturers, regulatory hurdles, and ensuring product reliability will need to be navigated carefully. With strategic planning and execution, Revamp Moto could become a key player in the EV industry, driving growth and innovation in the sector.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Revamp Moto and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
