Other Private Equity/Strategic Investments
Electric cycles maker EMotorad raises funding from cricketer MS Dhoni
Cricketer Mahendra Singh Dhoni has invested in Pune-based electric cycles maker EMotorad . He will also be the company's brand ambassador.Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad had last raised INR 164 crore in November 2023 in a Series B round of funding led by Panthera Growth Partners. It has raised a total of USD 20 million so far in equity.EMotorad operates a network of over 350 dealers across India and over 10 experience centres. In the financial year ended March 2024, it registered sales of INR 140 crore, up from INR 115 crore a year ago. The company aims to close FY25 with INR 270 crore in sales.
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