Premium e-bike maker EMotorad raises $3-M

Pune-based premium e-bike maker, EMotorad (EM), has raised USD 3 million (around INR 22.5 crore) in a strategic seed round of funding from two investors for scaling up its current facilities and expanding its presence across the domestic and overseas markets. Basant Lohia, Managing Director at TaraSafe International, along with a Hong Kong-based investor participated in the latest funding round, enabling the firm to notch up a USD 12 million valuation. The platform has been able to set up over 150 dealerships across the country with a presence across 48 major cities within a year of its inception.