Private Equity

VC Fund Investments

Electric cycle brand EMotorad raises Rs.24-Cr from Green Frontier Capital, others

YourStory  

Electric bicycle brand EMotorad has raised INR 24 crore in a Pre-Series A round from Green Frontier Capital (GFC), LetsVenture, and Ivy Growth Associates. Founded in 2020 by Rajib Gangopadhyay, Kunal Gupta, Aditya Oza and Sumedh Battewar, Pune-based EMotorad aims to bring eco-friendly, futuristic e-bikes at an affordable price for adventure seekers, daily commuters, or casual riders. The startup would use the funds to hire talent, and scale the business. It also plans to integrate technology to transform how consumers view cycling. EMotorad claims to be present in 82 towns in India and overseas including Japan, UAE, Europe and Nepal. It has onboarded 160+ dealers in India. The company claims to have sold over 35,000 units.