Total amount raised
₹2.1 Billion
Latest funding date
11/1/2023
Location
EMotorad has successfully raised funding over 5 rounds, with the latest being a Pre-Seed round. The company is backed by 8 investors, including NewRadioVenture and Panthera Growth Partners.
Keep reading to explore the intricacies of EMotorad's fundraising journey and the investors backing this innovative platform.
What Is EMotorad?
EMotorad is a dynamic company based in Pune, Maharashtra, India, specializing in electric vehicles, particularly e-bikes. The company caters to adventure seekers, daily commuters, and casual riders, offering a range of high-quality electric bicycles.
Founded in an unspecified year, EMotorad operates within the electric vehicle, manufacturing, and transportation industries. The company boasts a workforce of 101-250 employees, reflecting its significant presence in the market.
How Much Funding Has EMotorad Raised?
- Pre-Seed Round
- Amount Raised: USD 450,000
- Date: October 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial product offerings.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Seed Round
- Amount Raised: USD 2,900,000
- Date: October 2022
- Lead Investors: Green Frontier Capital, Ivy Growth Associates, LVX Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product development and increase market penetration.
- Debt Financing
- Amount Raised: USD 2,400,000
- Date: November 2023
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series B Round
- Amount Raised: USD 20,000,000
- 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: USD 28,750,000. Current Valuation: Not publicly disclosed.
Key Investors
- Panthera Growth Partners
- Details: Panthera Growth Partners is a Singapore-based investment firm that focuses on fast-growing technology-led businesses. They led the Series B funding round for EMotorad.
- Investment Focus Areas: Technology-led businesses, new economy consumption, growth-stage companies.
- Notable Investments: BigBasket, Pepperfry, OfBusiness.
- Alteria Capital
- Details: Alteria Capital is a venture debt firm that provides financing solutions to high-growth startups. They participated in the Series B funding round for EMotorad.
- Investment Focus Areas: High-growth startups, venture debt, growth capital.
- Notable Investments: Not publicly disclosed.
- Green Frontier Capital
- Details: Green Frontier Capital is an investment firm focused on sustainable and green technologies. They are an existing investor in EMotorad and participated in the Series B funding round.
- Investment Focus Areas: Sustainable technologies, green technologies, eco-friendly solutions.
- Notable Investments: Not publicly disclosed.
- xto10x
- Details: xto10x is a startup scale-up platform founded by Flipkart co-founder Binny Bansal. They participated in the Series B funding round for EMotorad.
- Investment Focus Areas: Scaling startups, operational efficiency, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- NewRadioVenture
- Details: NewRadioVenture is an investor in EMotorad, though specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for EMotorad?
EMotorad stands at the cusp of significant growth opportunities, driven by the burgeoning demand for sustainable transportation solutions. With the recent $20 million Series B funding, the company is poised to develop advanced smart electric cycles, enhance manufacturing capabilities, and expand its offline presence in key domestic and global markets. The electric vehicle market's nascent stage offers immense potential, and EMotorad's achievements, including over $36 million in revenue and 80,000 cycles sold, underscore its readiness to capitalize on these opportunities.
Future fundraising appears promising, given the company's rapid growth and successful funding history. The Series B round, led by Panthera Growth Partners, signals strong investor confidence, suggesting potential for further rounds to support expansion and technological advancements. However, challenges such as scaling manufacturing, navigating regulatory landscapes, and competing in a crowded market could pose hurdles. EMotorad's strategic focus on innovation and market expansion will be crucial in overcoming these obstacles and sustaining its growth trajectory.
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