EV startup Electriq raises funding from Yamaha Motors

Hyderabad-based electric two-wheeler startup Electriq has raised funding from Yamaha Motors' subsidiary Moto Business Service India (MBSI). MBSI has collaborated with Electriq to launch 1250 units of electric scooters and 50 units of electric cycles in Hyderabad and Karnataka. Electriq, founded in 2021, is a web and app-based platform that tracks electric vehicles and their vehicle drivers. It operates via business-to-business and business-to-consumer (B2B and B2C) streams. The vehicles are installed with Internet of things (IoT) device to share real-time location.