Pune-based Electric bike startup Tork Motorcycles has raised angel funding for an undisclosed amount from a host of marquee investors including Ola founders Bhavish Agarwal, Ankit Bhati and a group of angels led by Harpreet Grover, the chief executive and co-founder of CoCubes.
Tork was founded by Kapil Shelke, a mechanical engineer with a passion for racing. Shelke has built five motorcycle prototypes at Tork. “We are building India’s first electric motorcycle and are targeting its launch this year. The motorcycle will solve the rider’s pain points with several value-added features like GPS, storage, cloud connectivity and phone charging, making it also a first smart motorcycle in India,” said Shelke.
The startup is in the final stage of prototyping and certification procedures of the country’s first electric motorcycle. Named T6X, the motorcycle is being developed as a serious electric option to petrol-engine motorcycles.
T6X will be the first electric motorcycle designed for the market. It will have IP over battery management system, control systems, motor tuning, drive train and overall product integration. The motorcycle will enable significant reduction in overall cost of operation.
Tork’s 20-member team is planning to set up a manufacturing unit in Pune and will also be setting up charging units in four locations — Pune, Bengaluru, Gurgaon or Delhi and Chennai. It will build ‘Experience Tork’ showrooms for customers to have a feel of the motorcycle. The price of T6X is still undecided.
The demand for electric two-wheelers is expected to be around 1.3 mn by 2020-21, according to industry estimates.