growX ventures has invested in Cell Propulsion (CP), a forerunner in the deployment of Electric LCV & electric Bus solutions, as part of the EV Accelerator program being conducted by Gurgaon based, Huddle. Other investors that have invested in CP include Endiya Partners, Sangam Ventures, CIIE (IIM-A).
The EV accelerator program by Huddle is the first dedicated acceleration program for EV companies in India. As part of this program, CP will work closely on strategy with Huddle team and gain access to contextual business development and pilot opportunities while also getting to work with other Huddle partner companies, which include corporates and organizations working in and towards the EV ecosystem.
Quoting Paras Kaushal, Founder & COO of CP – “A major obstacle for the adoption of Electric Commercial Vehicles is the lack of local support ecosystem and the indigenous availability of core technologies. We are focused on solving these issues and this investment will enable us to quickly bring our solutions to the market.”
Throwing light on the opportunity, Ishaan Khosla, Co-Founder & Partner at Huddle, stated, “By targeting use-cases around commercial vehicles, Cell Propulsion is bringing value to one of the most important segments of the EV value chain. We will be working closely with the team to partner with the right set of organizations to drive this revolution in India.”
“Solid team; real problem; large opportunity, mostly unaddressed. We’re happy to be part of this journey,” added Sheetal Bahl, Partner at growx.
Cell Propulsion is led by Nakul Kukar, Paras Kaushal and Supratim Naskar, all former Indian Space Research Organisation (ISRO) engineers. With a strong background in EV component technology, the company is working towards developing integrated electric powertrains for electric buses and electric LCVs. Under a single interface, Cell Propulsion integrates all the critical attributes of Electric mobility solutions to provide economically viable EV solutions for Commercial Vehicles.
growX is a B2B and deep tech focused early-stage venture fund, which works closely with investee firms at both strategic and operational levels to drive scale and success. Its investments are focused on seed and pre-Series A stages across a wide range of sectors. growX has invested in over 30 companies, including Doxper, Fynd, Locus, Mad Street Den, Quandl, Wellthy Therapeutics, and Zipolan among others.
Huddle is one of the leading sector-agnostic incubators in India. With a rich pool of dedicated experts and mentors to support the growth of early stage ventures, Huddle enables the ventures to take their business to the next stage. With an active portfolio across industries, Huddle identifies and works closely with companies across India to build front runners in their segment.