HomeAutoeBikeGo arm Vajram electric raises USD 1.5m seed funding to develop portfolio...

eBikeGo arm Vajram electric raises USD 1.5m seed funding to develop portfolio of E2Ws, Auto News, ET Auto

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 eBikeGo will be launching the flagship vehicle.
eBikeGo will probably be launching the flagship automobile.

Vajram Electric, a wholly-owned subsidiary of eBikeGo, which plans to develop a portfolio of electric two-wheelers together with MUVI and Velocipedo, has raised USD 1.5 million to fulfil the manufacturing necessities of eBikeGo and to strengthen and broaden the fragmented EV provide chain of the nation with its strong in-house manufactured automobiles, the corporate mentioned.

Vajram Electrical is creating the trade’s greatest EV 2-wheeler power train which is able to allow a number of automobile configurations. Aligned with worldwide manufacturing requirements, Vajram Electrical has set a course to provide futuristic automobiles for Indian and international markets, catering to the anticipated calls for in B2B and B2B2C markets, the corporate mentioned in a media launch.

eBikeGo will probably be launching the flagship automobile, MUVI, before anticipated and manufacturing is to start by April 2023. An preliminary batch of 500 automobiles is to be commenced from Q1 of 2023 and will probably be deployed first in its present rental fleet to analyse their optimum potential. MUVI is a European-designed, 4th era electrical automobile that’s economical and linked. This flagship product is about to supply shoppers with clear, nimble, environment friendly, and uncomplicated mobility, therefore including worth to their on a regular basis lives, the corporate mentioned in a media launch.

MUVI goals to supply comfort and comes with a 16-inch wheel platform, two detachable lithium-ion battery packs – saved underneath the seat – that may both be swapped with fully-charged packs at a swap station or charged at dwelling utilizing an ordinary plug level (with a claimed cost time of three hours). When absolutely charged, MUVI gives a dependable vary of as much as 103 km, the discharge mentioned.

Irfan Khan,Founder & CEO, eBikeGo, mentioned, “We goal to seize as a lot as 5% of the electrical 2 – wheeler market in India. The concept is to introduce and set up world-class, 4th era electric vehicles from across the globe, such because the likes of MUVI and Velocipedo, and considerably influence the current state of electrical mobility. The corporate is making vital investments in transportation knowledge science, which not solely helps handle extremely optimised supply operations but in addition “enhances asset life,” will increase asset ROI, and lowers downtime by 30%–40%. This can be a highly effective affirmation of the corporate’s enterprise technique and technological basis, permitting us to broaden swiftly whereas minimising the worldwide carbon footprint.”

eBikeGo has greater than 2500 lively 2-wheelers in its fleet for EV rental and subscription and has collected round 1 petabyte of knowledge by way of acutely aware monitoring of its fleet. eBikeGo is finally creating an built-in EV ecosystem, the discharge mentioned.

Hyderabad-based finance advisory agency Happycoin suggested Vajram Electrical in its seed funding spherical led by Nikul Gala and household, together with their marquee HNIs, equivalent to Anil Basa, Cyprian D’mello and extra, the discharge mentioned.

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The startup goals to have 200 dealerships throughout main cities over the following 12 months. It’s also eyeing exports to numerous markets together with Asia, Africa and Latin America within the subsequent two years.

Supply: auto.economictimes.indiatimes.com

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