Angel Investments
Electric scooter maker kWh Bikes raises $2-M from LetsVenture, others
Bangalore-based electric scooter maker kWh Bikes has raised USD 2 million (around INR 15 crore) in a seed round led by online investment platform LetsVenture. The round also saw participation of Better Capital and Cloud Capital besides individuals such as Paytm founder and CEO Vijay Shekhar Sharma, Info Edge India CEO Hitesh Oberoi, Unacademy co-founder Gaurav Munjal and Kotak Mahindra Bank joint MD Dipak Gupta. kWh plans to use the funding to take the prototype to production and expand R&D across various EV (electric vehicle) components such as battery, BMS (battery management system), VCU (vehicle control unit) and motor. The firm currently caters to the B2B EV market and plans to be available for retail users as well.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
