Discover 18 articles related to EV
Vidyut, founded by ex-Swiggy and Bounce executives, has secured $2.5 million from Flourish Ventures to expand its battery-as-a-service financing, reducing EV costs and promoting sustainable transportation for SMBs in India.
VoltUp, led by Siddharth Kabra, raises $8M in seed funding to expand its battery-swapping network for EVs. The funding supports deploying 1,000 stations, accelerating India’s transition to sustainable mobility.
Simple Energy, an EV startup, plans to expand with 150 stores and 200 service centers by 2025. Backed by $20 million funding, it aims to boost revenue and strengthen market presence with its flagship electric scooters, Simple One and Dot One.
BGauss, an electric two-wheeler startup founded by Hemant Kabra, has secured ₹161 crore in funding from Bharat Value Fund. The investment will support the company's expansion in domestic and international markets, increase manufacturing capacity, and advance research and development for upcoming products.
BluSmart, India’s premier electric ride-hailing service, raises $50 million at a $335 million valuation. Funds will drive expansion into Mumbai, scaling Bengaluru operations, and adding a premium fleet. With FY24 revenues at ₹376 crore, BluSmart is challenging ride-hailing giants while advancing sustainable urban transport solutions.
Electric tractor startup Moonrider has raised $2.2 million in seed funding, led by AdvantEdge Founders and Micelio Technology Fund. Founded in 2023, the Bengaluru-based company develops cost-effective, climate-friendly tractors with proprietary battery technology. With 75% lower operating costs, Moonrider aims to transform farming while advancing sustainable mechanization globally.
EMO Energy, a deep-tech startup revolutionizing EV charging, has raised $6.2M in Series A funding led by Subhkam Ventures. The funds will expand battery and charger deployment, enabling 20-minute recharges for electric two- and three-wheelers. With top clients like BigBasket, EMO aims to double revenues by March 2025.
Bengaluru-based Oben Electric has raised $6 million in Series A funding to expand its EV operations nationwide. The funds will support over 100 showrooms and 50 service centers across India by 2026. Known for its flagship electric motorcycle, Rorr, Oben aims to become a global EV powerhouse by 2025.
EMotorad, India’s leading e-mobility brand, has surpassed its FY24 domestic sales in the first half of FY25, with September 2024 marking its highest-ever monthly revenue. The company’s growth is fueled by strategic expansion, including 12 new experience stores and partnerships with over 550 dealers nationwide. EMotorad is on track to achieve over 200% year-on-year growth, reflecting the rising demand for sustainable mobility solutions.
MOOEV Technologies, an electric vehicle startup, has raised ₹4 crore in seed funding led by Bizdateup, with support from Inflection Point Ventures and Spectrum Impact. Founded in 2021, MOOEV focuses on electrifying heavy-duty freight fleets, offering engineering and operational solutions. The funds will be used to deploy 15 electric trucks and expand high-voltage charging infrastructure. Based in Chennai, the company is collaborating with major corporates and plans to grow its EV Fleet-as-a-Service and EV Charge-as-a-Service offerings.
Hala Mobility, a Hyderabad-based EV-as-a-service startup, has raised ₹51 crore in a pre-Series A round led by its founders and notable investors. Founded in 2020, Hala provides EV management solutions primarily for e-commerce and gig workers. The new funding will drive expansion into six additional cities and the deployment of 10,000 electric vehicles by next year, furthering Hala’s mission to support sustainable urban mobility across India.
JSW MG Motor India has selected seven startups for its MG Developer Program Season 5.0, focusing on integrating AI with electric mobility. These startups will develop innovative solutions to transform the electric vehicle industry, with support from partners like AWS and Exicom.
Homegrown electric vehicle (EV) mobility platform, ZEVO, has secured $2 million in pre-Series A funding led by Pegasus India Fund, with contributions from BizDateUp, JIIF, and a family office. The funds will be used to expand ZEVO’s fleet by 5,000 electric vehicles and establish fulfillment centers across India. The company also plans to extend its services to tier 2 and tier 3 cities, bringing sustainable mobility to underserved regions. Co-Founder Dhruv Bhatia shared that ZEVO is targeting an additional $20 million in funding by January 2025, aiming for 200,000 EVs on the road by 2030.
British International Investment (BII) plans to invest an additional $300 million in India's electric vehicle (EV) sector over the next three years, as stated by Abhinav Sinha, MD and Head of Technology & Telecoms. BII has previously funded Mahindra's EV operations and startups like Euler Motors, Turno, and Battery Smart, aiming to expand its reach in EV manufacturing, components, and financing. Highlighting India's current 6% EV market penetration, Sinha sees significant growth potential, projecting a rapid increase. He emphasized the strategic importance of early-stage investments, typically between $5 to $10 million. Moving forward, BII is dedicated to advancing India’s electric mobility, with a focus on enhancing the industry's infrastructure and consumer adoption through investments across the EV value chain.
Ola Electric has received SEBI's go-ahead for an IPO to raise ₹7,250 crore, enhancing its stance in the electric vehicle (EV) landscape. This IPO will consist of a new issuance worth ₹5,500 crore and an offer for sale amounting to ₹1,750 crore. The company is at the forefront of the EV market in India, particularly in the two-wheeler sector. The capital from this IPO is planned for extensive capital expenditures and for reducing debt, thereby boosting Ola's innovation efforts in EV technology. Furthermore, Ola intends to deepen its research and development to drive further advancements in electric mobility. This move is seen as a strategic effort to solidify Ola's presence in a fast-evolving industry.
Zypp Electric, an innovative Indian EV rental startup, is set to expand its operations into Southeast Asia early next year, backed by a recent investment from ENEOS. The company, which currently thrives in major Indian cities, plans to launch in markets like Indonesia, Thailand, and the Philippines, leveraging its robust platform that supports millions of deliveries each month. With a strong focus on both geographic expansion and fleet enhancement, Zypp Electric aims to accelerate its growth while eyeing further opportunities in the Middle East. This strategic expansion is supported by a significant funding round and a clear path toward profitability.
ProsParity, an innovative electric vehicle financing platform, has successfully secured a $2 million pre-seed investment from renowned global and angel investors to enhance its technology and expand its market reach. The company, co-founded by Saurabh Khodke and Anirudh Dhakar, is setting a new standard in EV financing by simplifying access for dealers and OEMs and aiming for significant growth in asset management. With an ambitious goal to democratize EV financing and support India’s transition to electric mobility, ProsParity is poised to transform the EV financing landscape, leveraging its unique platform and strategic partnerships.
BluSmart, an innovative Indian ride-hailing service, has launched its operations in Dubai, setting the stage to challenge established players like Careem, Uber, and Hala. Starting with a pilot of 100 Audi E-Tron SUVs and 130 drivers, BluSmart aims to redefine urban mobility in the UAE's largest city. The company, which debuted in 2019 with an electric vehicle fleet in India, has now set its sights on global expansion, beginning with Dubai and soon, Abu Dhabi. With a recent infusion of $25 million to bolster its infrastructure and a fleet of over 7,300 EVs, BluSmart is poised for rapid growth, underscoring its commitment to sustainable and innovative transport solutions.