TDB-DST Backs Mumbai-based Scharge to Drive Next-Gen EV Charging Innovation

The Technology Development Board (TDB), Department of Science & Technology (DST), Government of India, has signed an agreement with Scharge Pvt Limited for a pioneering project titled “Powering EV Charging Innovation.” Supported under the India–UK Collaborative R&D Programme for Industrial Sustainability, the initiative brings together Scharge Pvt Limited and UK-based Albright Product Design Limited to develop advanced solutions for electric vehicle (EV) charging infrastructure.

Transforming Fleet and Depot Charging

The project focuses on creating a next-generation EV charging solution tailored for commercial fleet and depot operations. At its core is an innovative EV charger charge controller developed by Scharge, integrated with Albright’s patented automated cable management system. This combined approach aims to improve operational efficiency, safety, and usability in high-demand charging environments.

A key highlight is the motorised overhead cable management system, designed specifically for fleet applications. By reducing manual handling, minimizing cable wear and tear, and enhancing user convenience, the system streamlines charging operations. Compatible with existing AC Type-2 EV chargers, it promises faster turnaround times and safer, more organized depot infrastructure.

Addressing Operational Challenges

The integrated solution tackles critical challenges such as:

• Cable management – reducing clutter and manual intervention
• Equipment protection – minimizing risks of damage and vandalism
• Workflow optimization – enabling smoother fleet operations

By addressing these issues, the technology is expected to significantly enhance the efficiency of EV charging depots while raising safety standards.

Strengthening Indigenous Capabilities

Scharge Pvt Limited, headquartered in Mumbai, is an emerging Indian EV technology company specializing in power electronics and smart charging systems. Through this collaboration, the company aims to strengthen indigenous capabilities in EV charging technologies and deliver scalable, sustainable infrastructure for India’s growing electric mobility sector.

Voices from the Collaboration

Shri Rajesh Kumar Pathak, Secretary, TDB, stated: “Collaborative R&D initiatives such as the India–UK programme play a critical role in accelerating the development of advanced, industry-relevant technologies. Innovations in EV charging infrastructure are essential to support the rapid adoption of electric mobility and to build a robust, efficient, and future-ready ecosystem in India.”

The promoter of Scharge Pvt Limited expressed appreciation for the support, noting: “This project will enable us to bring innovative, globally competitive EV charging solutions to market, addressing the evolving needs of fleet operators and infrastructure providers.”

Editorial Note

This India–UK partnership represents a significant step toward building smarter, safer, and more efficient EV charging systems. By combining indigenous innovation with international expertise, the project not only addresses immediate operational challenges but also sets the stage for scalable adoption of electric mobility across commercial fleets.

Scharge Pvt Limited: Company Brief

• Company Overview
• Name: Scharge Pvt Limited
• Founded: December 2021
• Headquarters: Mumbai, Maharashtra, India
• Industry: EV charging technology (AC/DC chargers, charge controllers, cable management systems, and software integration)
• Status: Unfunded, privately held company

Founders & Leadership

• Saloni Goliya Salecha – Co-founder and Director
• Akshay Davendra Goliya – Co-founder and Director

Both founders are actively involved in steering Scharge’s product development and strategic collaborations, including the India–UK R&D programme for industrial sustainability.

Founders Background

Akshay Davendra Goliya

• Role: Co-founder & CEO, Scharge Pvt Limited
• Education: Illinois Institute of Technology (2007–2010)
• Experience:
  • Founder & CEO at Scharge Pvt Limited (2021–present)
  • Leads engineering and design teams focused on EV charging innovation

Saloni Goliya Salecha

• Role: Co-founder & CFO, Scharge Pvt Limited
• Education:
  • Bachelor of Commerce (BCom) – Symbiosis College of Arts & Commerce
  • Chartered Accountant (CA) – The Institute of Chartered Accountants of India
• Experience:
  • Scharge Pvt Limited – Co-founder & CFO (Sep 2021–present)
  • EY India – Manager (2018–2019), International Tax & Transfer Pricing (2014–2018)
  • EY Germany – Senior Consultant, Transfer Pricing (2017)
  • PwC India – Article Assistant, Assurance & Auditing (2010–2013)
• Specialization: Finance, tax, auditing, and international transfer pricing

Investors & Fundraising

• Funding Status: Scharge has not raised any external funding as of 2026
• Investors: None reported; the company is self-financed
• Fundraising Rounds: No venture capital or angel investment rounds disclosed

Products & Focus

• AC and DC EV chargers for home, commercial, and fleet use
• Charger management system (CMS) for managing networks of chargers
• Mobile application for user interaction and monitoring
• Smart power electronics integrated with automated cable management systems

Strategic Position

Scharge is positioning itself as a technology-first EV charging innovator in India.

Its collaboration with Albright Product Design Limited (UK) under the India–UK R&D programme highlights its ambition to deliver globally competitive, scalable EV charging solutions.

Despite being unfunded, Scharge is leveraging government-backed R&D support and partnerships to accelerate growth.

Summary

Scharge Pvt Limited is a young, Mumbai-based EV charging technology company founded by Akshay Goliya and Saloni Goliya Salecha. Akshay brings a technical background from Illinois Institute of Technology, while Saloni contributes financial expertise from her tenure at PwC and EY. The company remains unfunded, with no disclosed investors or fundraising rounds, and is building its reputation through innovation in smart charging systems and international collaborations.

Bengaluru Startup InfinityX Innovations Gets TDB Support For Next‑Gen EV Battery Swapping

India’s electric mobility ecosystem received a major boost as the Technology Development Board (TDB), Department of Science & Technology (DST), signed an agreement with Bengaluru-based InfinityX Innovations Private Limited to support the commercialization of automated battery swapping stations for electric vehicles.

The project, backed by TDB financial assistance, aims to deploy IoT-enabled, automated battery swapping stations capable of completing a swap in under 40 seconds. This innovation directly addresses one of the biggest barriers to EV adoption—charging time—particularly for commercial fleets and last-mile delivery operators.

InfinityX’s solution integrates advanced battery systems with automated swapping infrastructure, offering high thermal stability and operational reliability across diverse Indian conditions. Its modular battery architecture ensures compatibility across multiple vehicle platforms, enabling interoperability and scalability. The system is designed for high-utilization use cases, making it especially relevant for gig economy workers and fleet operators transitioning to electric mobility.

With TDB’s support, InfinityX will establish a dedicated manufacturing facility in Bengaluru to scale production of next-generation battery packs and swapping stations. The initiative is expected to contribute to a standardized and interoperable battery swapping network, strengthening India’s domestic EV infrastructure and reducing reliance on imported technologies.

Shri Rajesh Kumar Pathak, Secretary, TDB, emphasized that accelerating deployment of efficient charging alternatives is critical for India’s EV growth. He noted that indigenous innovations such as automated battery swapping systems can play a transformative role in enabling faster adoption, particularly in high-demand commercial segments.

InfinityX CEO and Founder expressed gratitude for the support, highlighting that reducing battery transition time to under 40 seconds makes EV energy replenishment comparable to conventional refuelling, thereby improving operational efficiency and accessibility.

InfinityX Innovations is a Bengaluru-based EV technology startup founded in 2019, focused on automated battery swapping solutions. It has raised early-stage funding, including a pre-seed round of $80K in May 2022, and has received accelerator support and government backing through the Technology Development Board (TDB).

Profile – InfinityX Innovations

InfinityX Innovations is a Bengaluru-based EV technology startup founded in 2019, focused on automated battery swapping solutions. It has raised early-stage funding, including a pre-seed round of $80K in May 2022, and has received accelerator support and government backing through the Technology Development Board (TDB).

Company Overview

• Name: InfinityX Innovations Private Limited
• Founded: 2019
• Headquarters: Vijinapura, Dooravani Nagar, Bengaluru, Karnataka
• Industry: Electric Vehicles, Battery Swapping Technology
• Employees: 1–10 (early-stage team)

Founders

• Founder (name not publicly disclosed in available sources)
• Leadership emphasizes indigenous innovation to reduce reliance on imported EV technologies

Funding & Investors

• Pre-Seed Round: $80K raised in May 2022 at a valuation of $2.2M
• Accelerator Support: Backing through accelerator programs, deal amount approx. $5.5K
• Investors: Six early-stage investors (names not publicly disclosed)

Technology & Focus

• Automated battery swapping stations capable of completing a swap in under 40 seconds
• Modular battery packs compatible across multiple EV platforms
• IoT-enabled infrastructure for real-time monitoring
• High thermal stability and operational reliability in Indian conditions
• Target market: commercial fleets, last-mile delivery operators, gig economy workers

Government & Institutional Support

• TDB Agreement (2026): Signed with Technology Development Board (DST, Government of India) to scale automated battery swapping stations
• Financial Assistance: Support to establish a dedicated manufacturing facility in Bengaluru
• Policy Context: Aligns with PM E‑DRIVE scheme (₹10,900 crore outlay, extended till 2028)

InfinityX Innovations is emerging as a strategic player in India’s EV ecosystem, combining startup funding, accelerator backing, and government support to build a scalable, indigenous battery swapping network. Its technology directly addresses EV adoption barriers, making charging as fast as refuelling.

ThunderPlus Raises ₹3 Crore Debt from SBI to Scale EV Charging Infrastructure

• Deploying capital with precision to accelerate high-demand expansion and maximize utilization-driven returns.

ThunderPlus, one of India’s fastest-growing EV charging infrastructure companies, has secured ₹3 Crore in structured institutional debt funding from the State Bank of India under the Government of India’s CGTMSE framework. With this milestone, ThunderPlus becomes the first profitable Charge Point Operator (CPO) in India to receive institutional bank debt, a strong validation of a model built on financial discipline, operational efficiency, and utilization-led growth.

 

Founded in January 2024, ThunderPlus adopted a differentiated expansion strategy in a sector often characterized by high capital burn. Instead of prioritizing rapid footprint growth, the company focused on demand density, corridor connectivity, and strong unit economics. This disciplined approach enabled ThunderPlus to close FY24–25 with ₹10+ Crore in revenue and positive EBITDA, a rare achievement in India’s EV charging landscape. The company has since surpassed its first-year performance and is on track to close ₹16 Crore in revenue by March 2026, reflecting a sustained 60% growth trajectory while maintaining profitability.

The ₹3 Crore SBI facility followed comprehensive institutional due diligence, including detailed financial scrutiny, operational assessment, cash-flow validation, and long-term business model evaluation. The approval signals increasing institutional confidence that EV charging infrastructure, when built with governance and execution rigour, can qualify as a bankable and scalable infrastructure asset class.

It is very inspiring to witness the journey of ThunderPlus. What makes it even more remarkable is that this organization is based right here in Hyderabad and is fundamentally very strong. SBI is very proud to support ThunderPlus in its growth, and we look forward to actively participating in and contributing to this incredible growth story even more — Srinivasu Pamu, Asst General Manager, Commercial Branch Secunderabad.

This is not just funding it is institutional validation. From day one, we focused on building a charging network rooted in profitability, operational efficiency, and responsible capital deployment. In a sector often perceived as capital-heavy and burn-driven, we chose disciplined growth supported by strong utilization and governance standards. We thank all our customers, partners & stakeholders for trusting us. This is just the beginning as we are continuing our conversations with other PEs and VC firms. The depth of due diligence undertaken by SBI reinforces our confidence in our systems, financial discipline, and long-term execution capability. We are building an infrastructure business designed to endure.” — Rajeev YSR, Executive Director & CEO, ThunderPlus.

The funds will be deployed toward:

• Expanding charging infrastructure along high-demand corridors
• Increasing ultra-fast charging capacity
• Optimizing working capital cycles
• Strengthening strategic ecosystem partnerships

ThunderPlus will continue to follow its measured expansion philosophy, ensuring each deployed asset enhances utilization and unit-level profitability before scaling further.

Beyond financial performance, ThunderPlus is also driving measurable environmental impact:

• Dispenses ~16,000 units of clean energy daily
• Enables nearly 60 million green kilometres annually
• Offsets ~10,000 metric tonnes of CO₂ each year
• Equivalent to planting ~300,000 trees

With institutional backing now secured and consistent profitability demonstrated, ThunderPlus stands at the forefront of India’s evolving EV infrastructure ecosystem setting a new benchmark for bankability, governance, and sustainable growth.

IAN Group Invests ₹22 Crore in Chargeup to Power India’s EV Driver Ecosystem

IAN Group, the country’s single largest early-stage investment platform, has invested in Chargeup’s ₹22 crore funding round along with Cap-A and existing investors.

Chargeup is building India’s driver-first EV Tech platform, enabling loan security for lenders, and earning security for drivers to run more and earn more — connecting all in one seamless platform.

The funding will support the company’s expansion into high-demand markets and further strengthen its technology platform for drivers, NBFCs, and scale operations across high demand EV focused markets.

Interestingly, Chargeup’s scale-up plans align with India’s continuously accelerating shift to electric mobility, where easy ownership and earning security are critical for last-mile drivers.

Founded in 2019 by Varun Goenka (Co-founder & CEO) and Satish Mittal (Co-founder & CDO), Chargeup works with India’s last-mile drivers, many of whom earn under ₹800 per day due to high financing costs, frequent battery replacements, and consequently vehicle downtime. EV 3W drivers lose almost half their daily income on EMIs, loss days due to breakdowns, and maintenance of batteries.

The investment aligns with the IAN Group’s focus on backing technology-led, scalable businesses that solve structural challenges in India’s economy. With a strong emphasis on platforms that enable financial inclusion, asset efficiency, and sustainable mobility, the group has been actively supporting companies building critical infrastructure for the next phase of India’s growth, particularly across deep-tech, mobility, and climate-linked sectors.
Varun Goenka, Co-founder & CEO, said, “Charge, and climate-linked sectors.

Varun Goenka, Co-founder & CEO, said, Chargeup is building a high-growth, profitable company focused on empowering last-mile drivers with better earnings and financial security. The IAN Group’s investment will accelerate our journey toward our Mission Million milestone, enabling a million drivers to become financially independent.

Chargeup has already onboarded over 10,000 EV drivers and plans to add 20,000 more by FY27. The company operates in a fast-growing market, with the opportunity estimated at $12 billion, driven by the rising adoption of electric three-wheelers in logistics and passenger mobility.

As India’s gig economy and urban mobility needs continue to expand, the company aims to play a key role in building the financial and operational backbone for the country’s EV ecosystem, improving credit access, asset utilisation, and long-term driver sustainability through a single, data-driven platform.

About Chargeup:

Chargeup is building India’s driver-first EV Tech platform, enabling loan security for lenders, and earning security for drivers to run more and earn more — connecting all in one seamless platform. Chargeup solves it with IoT integration and a unified digital platform, de-risking financing, assuring kilometres, protecting resale value, and seamlessly connecting drivers, OEMs, dealers, and lenders. Their mission is to enable 1 million Driver entrepreneurs with higher earnings by 2030.

About IAN Group:

IAN Group is India’s largest horizontal platform for early-stage investments, comprising the IAN Angel Fund, BioAngels, and a series of SEBI-registered Venture Capital Funds, the latest being a US$100mn VC Fund, IAN Alpha Fund. IAN enables entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores, supported by, high-quality mentoring by successful entrepreneurs, enabling access to global markets. IAN Group backs founders across domains and helps them scale their companies across India and beyond. Forbes has recognised

Ultraviolette Raises $45M Series E from Zoho & Lingotto, Strengthening India’s Global EV Play

• This growth capital in Ultraviolette will accelerate the domestic and international scale up of current products F77 and X-47 and future product platforms Shockwave and Tesseract
• The investment from Zoho Corporation was led by Sridhar Vembu, Mani Vembu and Kumar Vembu
• Ultraviolette recently launched the X-47 Crossover electric motorcycle which has seen high demand across the country
• Ultraviolette has expanded to 30 cities across India in a short span of 12 months and is expanding to 100 cities by mid-2026

Ultraviolette, today announced that it has secured $45 million as part of its ongoing Series E round. The latest infusion comes from leading Indian technology company Zoho Corporation, and Lingotto one of Europe's largest investment management companies.

This continued momentum in Ultraviolette’s Series E round underscores sustained investor confidence in the company’s growth trajectory and global ambitions. With the F77 and the recently launched X-47, Ultraviolette has built a unique design and technology-led enterprise.

We are glad to announce our Series E investment from Zoho and Lingotto, said Narayan Subramaniam, Co-Founder & CEO, Ultraviolette. Lingotto’s legacy of backing iconic performance and mobility brands, combined with Zoho’s long-term commitment to fostering cutting-edge Indian innovation, aligns perfectly with Ultraviolette’s mission to build category-defining electric mobility solutions for India and global markets.

Niraj Rajmohan, CTO & Co-Founder, Ultraviolette commented, With the ongoing Series E investments, we are doubling down on growth and expanding our production to meet increasing demand. Our focus is on advancing breakthrough battery technology, elevating performance capabilities and expanding production to support upcoming product platforms. This investment will accelerate our journey towards scaling into India and global markets.

Ultraviolette (UV) is an innovator in future-ready Electric Vehicle Platforms and Battery Technology. Infused with Aviation DNA, this enterprise was conceived in 2016 by the founders, Narayan Subramaniam and Niraj Rajmohan. Ultraviolette is backed by a spectrum of global investors, including Lingotto, TDK Ventures, Qualcomm Ventures, Zoho Corporation, TVS Motors, and Speciale Invest.

Finvolve & India Accelerator Backs Battwheelz with ₹2 CR Seed Round to Power Sustainable Last-Mile Logistics

Finvolve, the multi-stage VC fund has recently announced its strategic investment in Battwheelz, one of the fastest growing Electric Mobility as a Service (EMAAS) providers, primarily focused on last-mile delivery. The ₹2 CR seed funding round, raised at a valuation of ₹60 CR, also saw participation from other marquee angel investors. The funds will be utilized to expand geo operations in Bengaluru and strengthen EV fleet presence in Chennai and Pune.

Founded in 2022, Battwheelz has successfully launched its operations in Pune, Chennai and Bengaluru. It is recognised as an “EV” centric 3PL provider with a 100% electric fleet size of 450+ vehicles deployed on 3PL logistics. Through this investment, Finvolve is playing a pivotal role in driving its growth in last-mile delivery and 3PL logistics while contributing to building a sustainable logistics ecosystem.

Talking about the investment, Ashish Bhatia, Founder & CEO of IA & Co-Founder of Finvolve said –

Battwheelz is solving a critical need in India’s logistics ecosystem by integrating sustainability with scale. At Finvolve, we believe in backing companies that are shaping industries for the future with innovation and our investment in Battwheelz reflects our commitment to enabling cleaner, smarter and more impactful growth in last-mile delivery.

Elated with the fundraise, Chetan Chaturvedi Founder & MD of Battwheelz said –

We are on a mission to redefine logistics by making it 100% sustainable and efficient. With Finvolve’s support, we are now equipped to accelerate our expansion across India while staying focused on our vision to reduce carbon footprints and build a cleaner future for logistics.

With this investment, Battwheelz is targeting an 80 CR fundraise, aiming for 5x growth in topline by FY25. The company is already closing at ₹80 Lakhs in Monthly Recurring Revenue (MRR) and projects a 7x growth in MRR, while maintaining strong unit economics for sustainable and scalable expansion.set to strengthen its growth trajectory with a major focus on achieving a 5x growth in topline by FY25. The company also projects a 7x growth in Monthly Recurring Revenue (MRR), while maintaining strong unit economics for sustainable and scalable expansion.

Finvolve boasts a vast and diverse investment portfolio that spans across high-potential sectors such as EV & clean mobility, defence-tech, consumer internet, fintech, healthcare and enterprise solutions. Backed by India Accelerator’s multiple investment theses, Finvolve is actively strengthening the Indian startup ecosystem with capital to enable the right mix of innovation, scalability and sustainability.

Ultraviolette Secures $21 Mn with Strategic Backing from Japan's TDK Ventures and Existing Investors

• The investment round of $21M saw strategic participation from TDK Ventures and strong continued backing from existing investors Zoho Corporation and Lingotto (previously Exor Capital) among other leading institutional investors.
• Ultraviolette is actively expanding its retail footprint across India, scaling from its current presence in 20 cities to over 100 cities nationwide.
• F77 is the first Indian E2W to receive European Certification and to be sold across 10 countries in Europe.
• TDK Ventures now joins Ultraviolette’s distinguished group of institutional investors, which includes Qualcomm Ventures LLC, Zoho Corporation Private Limited, Speciale Invest, Lingotto (a subsidiary of Exor N.V.), and TVS Motor Company Limited.
• Other notable investors include Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (renowned actor and automotive enthusiast).

Ultraviolette, today, announced a strategic investment from TDK Ventures, the corporate venture capital arm of TDK Corporation (TSE: 6762). This partnership represents a pivotal step in Ultraviolette’s mission to develop and scale globally competitive performance-oriented EVs, that embodies Indian innovation and engineering excellence.

TDK Ventures now joins Ultraviolette’s distinguished group of institutional investors, which includes Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto (Previously Exor Capital), and TVS Motor Company. Other notable investors in Ultraviolette include Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (renowned actor and automotive enthusiast).

Ultraviolette was founded with a vision to craft electric vehicles that combine futuristic designs with precision engineering. Following years of rigorous R&D, Ultraviolette’s flagship motorcycle- the F77 has set new benchmarks in performance, safety, and technology, establishing itself as one of the world’s most advanced electric two-wheelers today. With a well-established foundation, Ultraviolette is now scaling up manufacturing, accelerating research, expanding its distribution network, and bringing its product portfolio to global markets of the world.

“Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation. Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration not only accelerates our vision of future ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant”, stated Narayan Subramaniam, CEO and Co-founder of Ultraviolette.

Niraj Rajmohan, CTO and Co-founder of Ultraviolette, commented, “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility. Together, we will continue to push the boundaries in building safer, smarter, and a more efficient electric mobility eco-system.”

TDK Ventures is committed to supporting disruptive startups that are driving scalable solutions in energy, mobility, and sustainability - key sectors that are shaping the future of global economy. Its investment, as part of Ultraviolette’s latest funding round represents TDK Ventures’ commitment to advancing sustainable transportation technologies around the globe. This strategic investment positions TDK Ventures at the forefront of India's electric two-wheeler revolution.

Ravi Jain, Investment Director of TDK Ventures, commented, “We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms. TDK Ventures is excited to support Ultraviolette in their relentless pursuit of growing their global reach."

In late 2023, TDK Ventures launched its Bengaluru Innovation Hub to empower India’s exceptional entrepreneurs to scale their technologies globally by leveraging its expertise in nurturing deep-tech startups around the world.

E-Motorcycle Manufacturer Oben Electric Secures ₹ 50 Crore in Series A Funding

• Funding round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office, and other existing investors.
• Oben Electric plans to use the funds to expand its existing product offerings & distribution network to 100+ showrooms across 50 cities in India by FY26.
• With this round, Oben Electric has raised a total of INR 150 Crores in equity funding to date utilizing which company has established itself as a market leader in e-motorcycle space with 4 e-motorcycle variants, 100,000 Vehicles/Year manufacturing facility & presence across 10 cities with 20+ showrooms.

Oben Electric, one of India’s most innovative & fastest-growing homegrown electric motorcycle manufacturers, has successfully closed its Series A funding round, raising INR 50 Crores. The funding round saw participation from Ambis Holding US, Kuberan Ventures, Karimjee Group from Africa, Mission Vertical-US Based VC, Sanjeev Saraf (Polyplex) Family Office, Pravek Kalp Family Office and other existing investors marking a significant milestone in the company’s growth journey, bringing total equity capital raised by the company to INR 150 Cr till date. Although India is the world's largest motorcycle market, only 1% of them are electric. This round validates investor confidence & thesis that EV transition of motorcycles is inevitable & players like Oben Electric are front runners of it.

With this funding, the company aims to expand its existing distribution network to 100+ showrooms along with Oben Care service centers across 50 cities in India by FY26, solidifying its leadership in the Indian Electric motorcycle market. Company also plans to utilize these funds to expand its current product offerings.

Oben Electric, is already making strides with its superior, vertically integrated & well researched e-motorcycle, selling under the brand name of “Rorr”, with 20+ stores across 10 cities in India such as Bengaluru, Delhi, Jaipur, Lucknow, Pune, Kochi, and Thiruvananthapuram, positioning it among the Top 10 players in the represented markets.

Commenting on the fundraise, Madhumita Agrawal, Founder & CEO, Oben Electric, commented, “We are thrilled to close this Series A funding round, marking a pivotal moment in our journey to build a global EV powerhouse. What differentiates Oben Electric is our unwavering commitment to innovation and independence. We’ve built this company from the ground up, without reliance on strategic investors or corporate backing, empowering us to remain agile and focus on what truly matters - delivering high-quality, high-performance EVs that address the unique needs of Indian consumers. We are deeply grateful to our new investors for their confidence in our vision, and to our existing investors for their ongoing support. This funding will fuel our next phase of growth as we expand across India and set our sights on entering strategic international markets, ultimately positioning Oben Electric among the top global players in the electric mobility space.”

Vinod Rustagi, Group CEO & Managing Director, Karimjee Group, Africa commented “India being world’s largest motorcycle market with ~12Mn units sold last year, giving them 66% market share of all 2-wheeler sales & only 1% of them being electric, we think it’s inevitable of ICE motorcycles to transition into electric. Premium & mass commuter electric-motorcycle segment is a blind spot of EV transition with limited to players, primed for disruption. Being present at the right time & place with right capabilities is essential for disruption & growth. Among a handful of EV companies working on motorcycle EV transition, we found Oben Electric best suited to disrupt & lead this transition. We believe Oben is ready for growth & will disrupt ICE to EV transition in the E-Motorcycle segment.”

Jeff Mamera, Founder & General Partner, Mission Vertical Capital said "We are very excited about the large and quickly growing total addressable market for Oben's e-motorcycles. Our deep dive into the industry convinced us that this management team has built an excellent intellectual property portfolio, efficient manufacturing and brought in strong talent to execute their go-to-market strategy."

Oben Electric has garnered attention in the Indian E-Motorcycle market with its groundbreaking Rorr product line. Company recently launched Oben Rorr EZ (Easy), priced from INR 89,999, which is transforming city commute with an impressive acceleration (0-40 km/h in 3.3 seconds), a top speed of 95 km/h and a range of up to 175 km (IDC) across three battery variants. Company continues to offer its flagship Oben Rorr, a high-performance electric motorcycle known for its exceptional specifications. All Oben products feature high performance LFP (Lithium Iron Phosphate) battery technology, the first of its kind in India's electric two-wheeler market, delivering superior resilience and longevity, even in extreme weather conditions.

Oben Electric stands out in the evolving EV market as an R&D-driven, vertically integrated company who designs & manufactures its own electric motorcycles and key components like batteries, motors, vehicle control units and home fast chargers unlike its competitors. Oben, with a team 300+ experts, manufactures its motorcycles & components at its fully compliant & operational 100K+ unit capacity manufacturing plant based in Jigani, Bangalore, with a strong domestic supply chain support of 150+ vendors. Oben Electric e-motorcycles have been tested on 200+ parameters (including components) for road worthiness, supported by 75000+ third party charging stations across 1600+ cities in India, 10+ ecosystem partners for insurance, financing & RSA services.

Oben Electric with its vision of ‘Designed in India for the World’ is primed to disrupt electric mobility space worldwide with its cutting-edge technology, superior product offerings, a growing distribution network, stable domestic supply chain, de-risked from regulatory & compliances perspective enabling them to scale production. Company aims to expand both its offerings & distribution network including exports for which it plans to raise USD 50 Million in Series B by Mid of 2025.

Premium Electric Motorcycle Startup Raptee Raises $3 Mn in Pre-Series A Funding Led By Bluehill Capital

Premium EV Motorcycle Startup, Raptee has raised $3 Million in a Pre Series A round of funding led by deep-tech VC fund Bluehill Capital.

The all-equity funding round saw participation from industry stalwarts including Mr. Eugene Mayne, Founder and CEO of Tristar Global (UAE), Mr. Lakshmi Narayanan, Former CEO Cognizant, Ramesh Kannan, Managing Director, Kaynes Technology, Mr. Chandu Nair, Director, Shankara Building Products and other HNIs from India and the UAE.

The funds will be allocated towards augmenting the manufacturing facility, acquiring machinery, tooling for the soon to be launched motorcycle, and to scale up the team.

Raptee is a full stack electric motorcycle manufacturer with a strong technological moat that has been developed indigenously. The Company has filed for 45+ patents so far. Raptee is the first Indian two-wheeler EV OEM to boldly introduce high-voltage drive train technology, along with an on-board charger, thereby making it compatible with the existing CCS2 public charging network, which is growing fast in India and across the Globe. Currently, India has over 9000 chargers installed which is comparable to the number of fuel pumps.

The high-voltage technology that is a critical part of Raptee motorcycles will also ensure much safer battery pack, with increased battery life and most importantly will address range anxiety.

Earlier in March, Raptee became the only OEM to receive a grant from ARAI (Automotive Research Association of India), the certifying authority for automobiles in India, towards the design and development of the high voltage powertrain. The first motorcycle is expected to debut in early 2024, with two experience centres in Chennai and Bangalore, subsequently expanding to 8 more cities by the end of the first year.

Raptee has initiated R&D for the next line of products and is planning to expand the team size to 150 in line with the business plan. Raptee’s progress has also been noticed by the Tamil Nadu Government, which has subsequently allocated a 36 acres property for the company along with other incentives for scaling up manufacturing.

Dinesh Arjun, Co-founder CEO, Raptee, said, “India is the largest motorcycle market in the world, with EV adoption on the rise. At Raptee, we want to launch a motorcycle in a mid-premium segment for consumers who believe that EVs are a true upgrade from ICE vehicles. We are extremely fortunate to be backed by investors from the manufacturing and transportation industries who understand long-term value creation and can add strategic value for us as we gear up for production and scale up. This being our first institutional round, we’re also proud to be backed by a DeepTech VC, Bluehill Capital. We’ve been refining and testing our vehicles, and the results are very promising. We are looking forward to launching it very soon.”

Manu Iyer, CEO & Partner, Bluehill Capital, said, “We strongly share the vision of the Raptee team to build world-class core EV technology right here in Chennai, India in a focused and cost-effective manner. Dinesh and his co-founders have diligently built the vehicle platform indigenously with intellectual property on various aspects of the vehicle sub-system. Having evaluated over 30 EV OEMs in India and having invested deeply in the EV and clean-tech ecosystem in India, we are impressed by Raptee’s cutting edge tech and excited to partner with them on their journey. We believe Raptee’s motorcycles will change the face of EV 2-Wheelers in India."

Over the last 12 months, Raptee’s team size has grown steadily to over 50. The rapid progress and vision displayed by the company has resulted in the on-boarding of the some of the most reputed suppliers for motorcycle components and senior leadership talent from the industry, which could ensure quality delivery and shorter turnaround times when the production scales up.

Recently, the former Head of Business of Royal Enfield, Mr. Jayapradeep V, joined Raptee as Chief Business Officer. Raptee has set up its first factory in Chennai, spread across 3 acres, which will house a majority of Raptee’s Research and Development team. It will have an annual capacity of 100,000 units and will serve as the primary production plant for Raptee for the next 24 months. The R&D centre will house state-of-the art development and testing facilities on-site and will aid in future products, while the manufacturing plant will house a dedicated battery pack assembly line. The proposed investment for this factory would be Rs 80 crore. In true Chennai startup fashion, it is noteworthy that Raptee has been frugal yet uncompromising in it’s approach and has reached this level (Tooled up Samples) at a fraction of the cost of many of its peers in the EV industry.

Raptee EV motorcycle is expected to be launched early next year. The company plans to expand to 100 cities in India and explore few conducive International markets over the next 3 years.

About Raptee

The concept of Raptee was born in 2019 with the sole intention to democratize electric mobility in India. Raptee is a full stack electric motorcycle manufacturer with a very strong technological moat. The company was founded by four engineers from Chennai (Ex Tesla, Wipro, Royal Enfield), working on to bring a premium electric motorcycle to the consumers of ICE two wheelers. We at Raptee are driven by an innovative spirit to redefine electric mobility. Our motorcycles are intuitive and engineered to outperform the conventionally powered vehicles, proving that switching to an electric motorcycle is an upgrade. They are intelligent, powerful, energy-efficient and loaded with cutting-edge technology to augment every single ride you take.

Kerala-based EV Charging Solutions Startup chargeMOD Raises ₹2.5 Cr in Pre-Seed Funding from Phoenix Angels

Kozhikode, Kerala-based chargeMOD, a charging solutions provider for electric vehicles, has raised ₹2.5 crore in Pre-Seed Round of funding from Phoenix Angels, a Thrissur-based angel network, announced the startup.

The fresh funding will allow the startup to accelerate growth of its products, which include a 3.3kW AC charging machine and a 60kW charging station, for domestic and commercial use respectively.

Founded in 2019, by M Ramanunni, V Anoop, Advaith C and Chris Thomas, chargeMOD is a subsidiary of BPM Power Private Limited and was incubated under Kerala Start-up Mission (KSUM), a central agency of the Government of Kerala for entrepreneurship development and incubation activities in Kerala.

chargeMOD has developed EV charging points for home and commercial use and their mobile app enables users to find charging stations nearby. Their product focuses on providing reliable, convenient solutions for EV owners on the go. Some of the prominent projects that startup has executed include those in partnership with Larsen & Toubro, Murugappa Group, Kerala State Electricity Board (KSEB) and Kochi Metro Rail Limited.

The startup claims to be one of the top EV charging companies in India, managing over 2,000 chargers in their system and holding over 90% of the market share in Kerala’s EV charging ecosystem.

About Phoenix Angels, it is a new Kerala based angel network formed by Shiraj Jacob, Joe Ranji and Harikrishnan V focusing on investing in Kerala-based startups.

Unlike other regular angel networks, Phoenix does not take a share in the profits earned by its investors. Phoenix Angels works on a fixed annual membership model, collected from all members. All members are required to pay a joining fee at the time of signing up.

In A First, Zypp Electric Empowers Its Employees with INR 1.5 Cr ESOP Buyback

Akash Gupta (Co-Founder & CEO), Zypp Electric announced ESOPs for Ramsevak, their office boy, in their recent townhall and even announced the same on his Insta channel (KaashSeAkash)

Around INR 1.5 Crore was allocated to 15 employees who have an old association with the company

The company also extended ESOP benefits to the office boy, Ramsevak, a long-term associate within Zypp

Zypp Electric, India’s leading tech-enabled EV-as-a-Service platform, recently announced its first Employee Stock Ownership Plan (ESOP) buyback, allocating around INR 1.5 Crore to 15 dedicated employees who have been associated more than a year of service within the company. This initiative is a step further toward the company's commitment to empowering its workforce and fostering a culture of shared success. Zypp Electric is the first company in the EV segment to offer ESOP buybacks in India.

In the current liquidation, 20% potential is realized with an intent to nurture many millionaires in the journey. This has led to many more employees have come forward to avail ESOP opportunities, showing their commitment to establishing a long-term association with the company and benefitting from its growth. Zypp Electric has also extended ESOP benefits to Ramsevak, a long-term office boy, a testament to their inclusive approach.

Akash Gupta, Co-founder & CEO, Zypp Electric said, "This is like the realization of a long-term personal dream and an accolade to our ambitious journey. I have always been selling ESOPs within the team, however as expected it had few takers on the concept. This realization of the monetary value of ESOPs amidst employees was to make them feel the power of this amazing wealth-creation tool. We aim to continue such initiatives even in future and it's just the beginning. Making millionaires is a dream I see and it is equally important for me to ensure that my team members achieve prosperity as we foray into building the EV revolution, eventually vesting our employees with financial benefits linked to the company's achievements. We believe every team member plays a crucial role in our success, and this ESOP buyback is a step towards ensuring their well-deserved share in the company's growth. Employees have realized the value of up to INR 50 Lacs individually."

The employees at Zypp Electric appreciated this initiative of rewarding their dedication and loyalty towards the company. They expressed it further strengthened their association with the company, motivating them to contribute to its continued growth and success.

Commenting on the company’s progressive initiative, Vishwajeet Singh, AVP, Marketing & Design, Zypp Electric, said, “I’ve been associated with Zypp Electric from its first day and have experienced growth of the company closer than anyone. It’s great to have liquidity coming in as a reward for diligence and motivation for tenure ahead. I’m sure this will motivate other team members and become an example of how ESOPs can be an opportunity for wealth creation along with value creation.”

Speaking about his association and rewarding experience with the company, Sumit Raina, AGM, Business Development, Zypp Electric, said, “A much-appreciated step by the company to reward the loyalty and hard work of the team members. I am about to complete 5 years with Zypp Electric, and this liquidation was exciting for me. I believe this is just the beginning, more is yet to come and more talents will join this journey.”Zypp Electric India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission of Zero Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free.

Zypp Electric's business model is to make carbon-free last-mile delivery for local merchants from e-commerce giants to delivery executives and thereby reduce delivery cost and pollution on an asset-light model. The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance. The technology tracks batteries that can be replaced at Zypp swapping stations which are installed at key touchpoints. Eco-friendly EV services also reduce the cost per delivery and help to make the city pollution-free. Currently, it has over 16,000+ (as of June 2023) and increasing Zypp EVs and pilots (delivery executives) working towards this mission.

EV Startup Vegh Raises $5 Mn in Pre-Series Round

EV startup Vegh, announced today that it has successfully secured $5 million in a strategic pre-series round of investment. The funding comes from an undisclosed investor and marks a significant milestone in Vegh's ongoing $50 million pre-series fundraising round.

The funds will be primarily utilized to bolster the company's working capital needs, including the creation of a robust sales and distribution network, the expansion of its manufacturing capabilities for EV parts, and further investment in research and development (R&D) initiatives.

Founded in 2021 by Sumeet Gupta, Pragya Goyal, Kamalchand Bothra, Ashkaran Bothra and Namrata Gupta, Vegh, driven by its mission to create a sustainable mobility ecosystem, is actively pursuing an ambitious expansion strategy and strives to become a dominant player in the electric vehicle (EV) industry. The company already boasts a state-of-the-art manufacturing facility in Bathinda, Punjab, which also serves as its research and development hub and has a production capacity of 60,000 units per year. However, the company has set its sights on scaling up its operations to Three Times the current capacity to meet the growing demand and seize business opportunities.

"We are thrilled to secure this investment in our pre-series round, which reflects the confidence and support we have garnered from our investors. The funds will be instrumental in driving Vegh's expansion plans, strengthening our sales and service network, and establishing Vegh as a leading EV brand in India," said Sumeet Gupta, Founder and Managing Director.

"We are committed to our Make in India vision and are excited about the future of electric mobility. "In the first phase of its expansion strategy, we aim to penetrate to 12 states with a robust sales and service network,” said, Pragya Goyal, Co-Founder and CEO, Vegh. 

The company has outlined its strategic plan to strengthen sales infrastructure nationwide while also expanding the production capacity of its renowned electric scooter series, the Vegh S60, in addition to introducing two highly anticipated high-speed scooter models in the coming months.

Vegh has been gaining significant traction in the EV market due to its commitment to innovation, quality, and sustainable transportation solutions. The company's electric scooters have garnered praise for their performance, safety, design, and eco-friendly attributes.

About Vegh:

Vegh is one of the fastest growing two-wheeler e-scooter brand that was established in 2021. With an ambitious expansion strategy, Vegh aims to establish itself as a leading force in the electric vehicle (EV) industry and is driven by a clear mission to develop a sustainable mobility ecosystem. The company's advanced manufacturing facility located in Bathinda, Punjab, has an impressive annual production capacity of 60,000 units and serves as its research and development hub. Vegh is leading the revolutionary headway of e-scooters for the generations of believers, doers and achievers who don't give up.

Bhopal based EV Startup Enigma Expands International, Launches Its 1st Showroom in Nepal, Targets 15 in Next 2 Quarter

Located at Nagpokhri, Naxal, Kathmandu, the Enigma Electric experience centre promises to deliver an immersive and futuristic environment, providing customers with an unparalleled opportunity to explore Enigma’s cutting-edge electric vehicle offerings

Enigma, a young Make-in-India EV manufacturer from Madhya Pradesh, is excited to announce the launch of its first showroom in Nepal. This expansion marks a significant milestone for Enigma as it fortifies its foothold in the international market, underscoring the company’s unwavering dedication to expanding its global presence and capitalizing on emerging prospects.

Located at Nagpokhri, Naxal, Kathmandu, the Enigma Electric experience centre promises to deliver an immersive and futuristic environment, providing customers with an unparalleled opportunity to explore Enigma’s cutting-edge electric vehicle offerings. Enigma has partnered with M/s Rising Trading Company Limited, based in Kathmandu, for the distribution of its EVs in Nepal. The tie-up enables Enigma to become an exporter of electric vehicles, with M/s Rising Trading Co Ltd inaugurating their first Enigma Electric experience centre at the aforementioned location, entrusted with the responsibility of establishing Enigma’s presence in Nepal.

“Our partnership with Enigma opens up exciting opportunities for us to expand into the Nepalese market,” expressed Mr. Aziz Shrestha, a Partner at Rising Trading Company Limited. He further added, “Our ambitious aim is to establish a network of up to 15 dealership outlets throughout Nepal, ensuring that customers can directly experience the exceptional performance of Enigma’s high-speed product line.”

“At Enigma, we see this initiative as the inaugural stride towards our global expansion. We are not merely advancing electric mobility; we are instigating a revolutionary shift in transportation. Through our immersive showroom experience and the expertise of our partner, M/s Rising Trading Company Limited, we are paving the way for a network of dealerships that will bring Enigma’s high-speed electric bikes closer to customers across Nepal. With our combined efforts, Nepalese customers can look forward to an exciting future of sustainable transportation options and a brighter tomorrow” said Mr. Anmol Bohre, Managing Director, Enigma.

Enigma’s entire range of high-speed electric bikes will be available at the Nepal showroom. Customers can explore these cutting-edge models, which combine quality craftsmanship, advanced technology, and affordability. The showroom also features an immersive display and offers customers the opportunity to take immediate test rides, allowing them to experience the thrill and performance of Enigma electric bikes first-hand. As an exporter, Enigma will be shipping the vehicles as Completely Built Units (CBU) from India to Nepal, ensuring that customers receive the same level of quality and excellence that Enigma is known for.

About Enigma

Enigma Automobiles Private Limited, founded in the year 2015, is driving electric mobility more consistently and more enthusiastically than any other mobility group. By 2025, the company aims to capture 25% of the potential market share and sell up to 250000 electric bikes in India. With the tenets of the company grounded in quality and matchless technology, Enigma plans to bring attractive electric models onto the road at affordable prices, and help India make a breakthrough.

Attron Automotive Raises Rs 4.75 Cr from Anicut Capital, Pontaq VC, Venture Catalyst and Yashovardhan Shah

The fundraise will also help them in market expansion and accelerating their growth journey

Attron Automotive, a leading provider of innovative motor and controller solutions for electric vehicles (EVs), today announced the successful completion of the first round of funding, raising a total of 4.75 crores. It was led by Anicut Capital and the round saw participation from Pontaq VC, Venture Catalyst and Yashovardhan Shah. The funds will be utilized to support the company's key growth initiatives, including the setup of an assembly line, establishment of a prototyping facility, team expansion, and research and development efforts to drive innovation in existing and new technologies.

The infusion of funds will enable Attron Automotive to make significant progress towards achieving its goals - the company plans to set up an assembly line with an initial capacity of 10,000 units per month with an aim to expand it to 70,000 units per month within the next five years. Additionally, Attron Automotive will grow its team, focusing on research and development and sales to meet the growing demand for products. The company's R&D team will also be responsible for developing new technologies, allowing Attron Automotive to maintain a competitive edge in the market. Furthermore, the establishment of a prototyping facility will streamline the production of samples for customers, reducing lead times and fostering faster adoption of Attron Automotive’s solutions.

“We are thrilled to have successfully raised 4.75 crores in this fundraise, which will be instrumental in driving our expansion plans and fuelling our innovation initiatives. The involvement of Anicut Capital as investor and mentor brings valuable expertise, insights, and guidance to Attron Automotive. Their support will help the company navigate challenges, make strategic decisions, and avoid common pitfalls. This assistance has prepared us to provide an exceptional experience to our future customers and undertake significant responsibilities for larger OEM players in the industry. Additionally, Anicut Capital’s extensive network will introduce us to potential customers, partners, suppliers, and other investors, opening up new opportunities for collaborations and resources. Post fundraise, we have outlined a set of milestones aimed at capturing a significant market share. We aim to acquire 10% market share in the 3 and 4-wheeler load carriers' market within the next three years, leveraging our proprietary motor and controller E-powertrain solutions. This investment not only validates our potential but also positions us for significant growth and market leadership in the electric vehicle industry”, said, Mosam Ugemuge, Founder and CEO, Attron Automotive.

“We are excited to back Attron Automotive in their journey towards transforming the electric vehicle industry. Attron Automotive's young and enthusiastic team, their innovative product, and the vast potential for market penetration is poised to revolutionise the Indian market. With the Niti Ayog’s EV policy aimed at reducing EV dependence on China, Attron's proposition of an IP driven Made in India electric motor will further give them the required market impetus to excel.”, said, Ashvin Chadha, Managing Partner, Anicut Capital.

Looking ahead, Attron Automotive has formulated an expansion and growth strategy. The company plans to target original equipment manufacturers (OEMs) seeking to transition from Chinese powertrain components to domestically manufactured solutions. Furthermore, Attron Automotive aims to collaborate with other EV component OEMs, such as battery, BMS, DC-DC Converter, and VCU manufacturers, to offer complete EV solutions for retrofitting and new product development.

With a successful track record in the industry, Attron Automotive has developed a proprietary motor topology that achieves motor efficiency exceeding 97%. The company's pre-integrated motor controller solutions cater to various low voltage and high voltage applications, including automotive, defense, aviation, and agriculture. Attron Automotive has already completed field testing of its system with multiple OEMs and is now poised for mass production following the setup of its assembly line.

About Attron Automotive:

Attron Automotive is a leading provider of innovative motor and controller solutions for electric vehicles (EVs). The company's proprietary technology delivers exceptional motor efficiency and pre-integrated solutions for various applications, including automotive, defense, aviation, and agriculture. With a focus on driving sustainability and advancing EV adoption, Attron Automotive is committed to revolutionizing the automotive industry through cutting-edge engineering and innovation.

About Anicut Capital:

Anicut Capital is a multi-asset financial institution with offerings in debt and equity. Anicut currently manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Grand Anicut Fund 3. Cumulatively, Anicut manages an AUM of Rs 1,600 crores with investments in early and growth-stage start-ups. Anicut's portfolio companies include brands like Wow! Momo, Bira, Sugar Cosmetics, Earth rhythm, Wingreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, and Grip Invest, to name a few.

EV Logistics Firm Zyngo Raises $5 Mn in Pre-Series A Funding Led by Delta Corp Holdings

Zyngo EV Mobility Pvt. Ltd, a Gurugram-based tech-enabled third-party logistics service provider, has raised $5 Million in Pre-Series A funding led by Delta Corp Holdings (“Delta Corp”) with participation from existing investors LC Nueva Investment Partners LLP. The funds will be used towards increasing fleet size, expanding to new geographies and to enhance technology.

Zyngo, founded by Prateek Rao in January 2020, offers last-mile delivery solutions through a fleet of electric vehicles. The company caters to B2B and B2C consumers, focusing on intra-city logistics to fulfill their daily logistics and transportation needs. Zyngo runs on a unique ‘asset-light model’ where they act as an intermediary between the supply and demand in the market while taking care of the operations and management of the EV fleets end to end. Zyngo aggregates the demand from various e-commerce companies, SMEs, FMCG players, cloud kitchens and other channels; on the other hand, aggregates supply directly from OEMs and DCOs(Driver cum operators).

Zyngo has made significant contributions in the EV Logistics industry, specifically in Last Mile Delivery (LMD) and Hyperlocal sectors. Zyngo has played a key role in reducing carbon footprint and curbing urban freight pollution by replacing ICE vehicles with EV technology, specifically targeting LMD trucks. Secondly, Zyngo has brought down delivery costs by up to 35%, as LMD contributes to a considerable portion of the delivery cost of a product. Lastly, Zyngo's in-house Fleet Management Software (FMS) has enabled complete visibility and transparency in its operations, addressing customer confidence and product reliability issues faced by many e-commerce companies. Lastly, as the largest organized EV 3PL (Third Party Logistics) in the pan-India market, Zyngo serves a diverse range of clients from various sectors and it aims to contribute towards improving India’s logistics sector.

Commenting on the investment, Prateek Rao, CEO and Founder, Zyngo, said, "We founded Zyngo with a vision to champion the cause of clean mobility solutions in the logistics sector which has traditionally been dominated by large polluting trucks and vans. Our efforts to deploy cutting-edge technology and electric vehicles for last-mile delivery have already garnered an overwhelming response from our customers. With this latest investment, we are excited to accelerate our growth and expand our reach, while staying true to our commitment to provide eco-friendly and affordable logistics solutions. We are thrilled with the further validation of our business model from our existing and new investors. We look forward to creating a greener tomorrow together."

Mudit Paliwal, the CEO & Founder of Delta Corp - “We are very excited to support Zyngo and extend our footprint in last-mile logistics in the EV space. What better place than India with its large population and growth potential. We have identified some of the key infrastructural barriers towards mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers, financing vehicles to creating EV infrastructure hubs, our goal is to create a comprehensive EV ecosystem that will accelerate adoption of EVs throughout India particularly in logistics.”

“Zyngo has become a trusted logistics-delivery partner to many top e-grocery and e-commerce brands, thanks to the exceptional leadership and extensive logistics expertise of the founding team. Their commitment to introducing low-carbon mobility solutions is commendable and shows their dedication to making a positive impact on the future of last-mile logistics. With their passion and strategic approach, I am confident that Zyngo is well-positioned to revolutionize the future of last-mile logistics. We are excited to support them in their next phase of growth.", he added.

Currently, Zyngo does approximately 3 lakh deliveries per month with a fleet size of 1150+ vehicles - including both 2W and 3W EVs - all of them powered by lithium-ion batteries. These vehicles (cargo e-loaders) are sourced or leased by Zyngo from top OEMs such as Hero Electric, Piaggio, Kinetic Green, Mahindra Electric, among others.

Zyngo intends to deploy over 3,000+ logistics EVs across India by the end of FY23, and at the same time, significantly expand its fleet size and B2B customer-cum-logistics-partner portfolio by 10x. By 2025, Zyngo aims to deploy at least 18,000+ zero-emission EV fleets throughout India to support the country's climate action and sustainability goals. Furthermore, Zyngo is planning to launch a first-of-its-kind hyperlocal B2C delivery mobile app. The app will ensure the efficient utilization of the fleet, with customers being able to access it through an easy-to-use, robust tech platform available on both IOS and Android devices. Zyngo also intends to expand its services to emerging segments such as food tech, e-commerce, and e-grocery deliveries.

About Zyngo

Zyngo is on a mission to provide sustainable and innovative logistics solutions that reduce dependence on fossil fuels. Zyngo has collaborated with companies to bring transition in e-commerce & e-grocery industry by switching their delivery vehicles from ICE vehicles to electric vehicles by maintaining the same level of logistics standards and productivity. Their vision is to become the largest last mile and hyperlocal company in India, with plans to deploy a fleet of over 18,000 EVs and cater to 2.5 million deliveries monthly over the next two years.

About Delta Corp Holdings

Delta Corp is a global fully integrated business involved in transportation/logistic services, asset management, and servicing the industrial supply chain. Delta Corp is headquartered in London and is a multinational business with a global footprint through a network of offices in 15 countries across Europe, the Middle East, Africa and Asia. With over 350 personnel, the company currently operates through three operating subsidiaries: (i) Bulk Logistics, (ii) Energy Logistics, and (iii) Asset Management for logistic assets, which they believe provides them with competitive advantages that allow them to maximize their market position with a business model that offers unrivaled scalability within the maritime and logistics industry.

BLive Opens Experiential EV Store in Kolhapur, Maharashtra

The high-end store will offer customers a range of benefits such as electric vehicles from top brands, easy financing options, after-sales services, and great exciting offers.

Expanding its countrywide presence to boost EV adoption, leading multi-brand EV platform BLive has opened its experiential EV store in Kolhapur, Maharashtra. It was inaugurated in the presence of Kiran Patil- Chairman, Ghatge Patil industries, and other dignitaries. BLive is experiencing a high EV demand across the country, and it believes this store will cater to the needs and aspirations of EV buyers in the region. The opening of this store is further aligned with the brand's larger objective of building a greener, sustainable future by promoting 100% clean mobility adoption in India.

The exclusive store has been opened in partnership with Techno Vision and houses a range of EV options from leading brands for the customers. Additionally, to encourage buyers to speed up their EV purchase decision and switch to e-mobility, the store will provide easy financing options along with exciting offers. With this, the customers will be able to purchase an EV with easy EMI options as low as Rs 2000 monthly. The store will also provide them an opportunity to exchange and upgrade their old petrol-run 2-wheelers for brand new EVs.

Also, it will act as a one-stop, go-to destination for customers to get a hassle-free EV experience and a choice to select from well-known brands such as Gemopai, KineticGreen, Batt:RE, Hayasa, Detel, Amo, EMotorad, and Hero Lectro, among others. For holistic care of EV buyers, it will provide roadside assistance, extended warranty, easy financing options, excellent after-sales services and many other facilities under one roof.

Commenting on the launch, Samarth Kholkar, CEO & Co-Founder, BLive said,'' The launch of this store is BLive's another step towards strengthening its footprints across the country. EVs are becoming mainstream and we believe providing a hassle-free EV experience by taking care of all of customers' needs under one roof will take EV adoption to new heights. We are receiving a great response which is a reflection of the high EV demand across the country. The customers have become more aware and responsible towards the environment and we believe this store will facilitate them in easily switching to clean mobility. Our hi-end services, experience and expertise being offered at the store will greatly benefit them. We are looking forward to working together with our partners to strengthen our India presence and make EVs accessible and affordable for all.”

BLive, which is a digital-first, multi-brand EV store has bolstered its presence with 20 stores across India and with this launch; it has come one step closer towards its goal of having 100 EV stores by 2024. The brand will soon expand its reach to newer locations to drive EV adoption, accelerate decarbonisation, and build a sustainable future.

BLive is India’s first Multi-brand EV platform offering a wide range of EV products and services on a digital platform www.BLiveEVstore.com with over 40 brands listed on its platform, BLive offers an omnichannel experience to its buyers – an online E-commerce store and Premium experience stores pan India. Driving its vision to accelerate adoption of EVs – BLive is rapidly expanding its presence pan India to 100 premium Multi-brand Stores by ’24 offering E-Scooters/ E-cycles/ Delivery E-bikes and many more unique form factors. BLive facilitates EV adoption for personal usage as well as businesses by providing seamless Charging infrastructure, Post sales service as well as easy finance options to its customers.

CASE Mobility Grand Start-up Challenge Finale Held at Hyderabad E- Mobility Week

Startups Pitch Innovative Ideas in Sustainable Mobility Space

With the aim of accelerating innovation in areas of Connected, Autonomous, Shared, and Electric (C.A.S.E.) mobility in India, young entrepreneurs presented their innovative business ideas to the jury at the C.A.S.E. Mobility Grand Start-up Challenge as part of the ongoing Hyderabad E-Mobility Week (5-11 February 2023).

Jayesh Ranjan, Principal Secretary, Govt. of Telangana with jury members and participants at the CASE Mobility Challenge

Founders of seven startups, including two each from the state of Telangana and Karnataka, and one each from Tamil Nadu, Maharashtra, and Gujarat, presented their innovations and business ideas and made strong pitches to the jury at the finals of the challenge.

Speaking at the occasion, Shri Jayesh Ranjan, Principal Secretary, Information Technology, Electronics & Communications, and Industries & Commerce Departments, Govt. of Telangana said, “The C.A.S.E Mobility Grand Challenge is an important part of the Hyderabad E-Mobility Week and addresses important aspects of innovation in new-age mobility. Innovation will help fuel the movement to sustainable mobility and I wish all the participants a great journey ahead.”

i-elektrik, which creates smart charging solutions for the emerging EV markets won the Challenge while NeoMotion, an IIT Madras startup that creates transformative electric products for wheelchair users (elderly, physically challenged) to enable them to be an inclusive part of society was adjudged the runner-up. They both will avail a grant of INR 15 lakhs for their projects.

The Challenge saw participation from other startups like Hala Mobility which provides multimodal EV shared mobility platform with two offerings, EV as a service and platform as a service for micro fleet operators; Adiabatic, a social enterprise that provides scalable intelligent Battery Management System technology (BMS) to calculate and predict accurate battery data, reducing temperatures of the battery; Comuti Energy Vayu, a sustainable mobility venture with patented technology of storge of fuel for fuel cell technology, Aatral that develops innovative cathode for Sodium-Ion batteries as an alternate of lithium batteries, and AutoNXt which builds driverless electric tractors and high voltage electric powertrains.

Saurabh Bakliwal, MD & Partner, BCG, one of the juries for the event, said, "The solutions built by the startups in CASE challenge were truly very bold, taking on leading global companies with deep tech solutions. It was really energising to witness the impressive quality of their submissions and be a part of the jury, evaluating and celebrating the brilliance of these entrepreneurs."

Sascha Ricanek, VP, ZF RaceEngineering, Vikram Garga, Group Head, Marketing, Apollo Tyres, Sanjeev P, Head, Micro Mobility, TVS Motor; Mamatha Chamarthi, Head of Software & Business Product Management, Stellantis; and Prof. Rajalashmi, Director TiHan, IIT Hyderabad were other jury members for the event.

Amidst the challenges in adapting green mobility future, Telangana is one of the first states to launch the EV&ESS policy in 2020. Currently, the state is growing to be the biggest hub for technology and innovation by being home to several of the largest global IT players and auto industries.

The C.A.S.E. Mobility Grand Start-up Challenge provided startups an opportunity to share innovative, feasible, and scalable solutions for tangible problems prevalent in urban mobility India with new-age entrepreneurs, innovators, and investors.

The Challenge was organized by the Government of Telangana in association with T-Hub, the world’s largest innovation centre, in association with Telangana Mobility Valley (TMV), India’s first cluster focusing on new and sustainable mobility, and TiHan.

For more information, please visit the event's website at https://www.evhyderabad.in/

Jodhpur-based EV Startup DEVOT Motors Showcased its Electric Bike with a 200 Km Range at Auto Expo 2023

The EV startup has settled its R&D centre in the United Kingdom and Development in Jodhpur, Rajasthan

Jodhpur-based EV startup DEVOT Motors unveiled its electric bike at the 2023 Auto Expo in Greater Noida. The production-ready prototype model, powered by a high-performance 9.5 KW motor, delivers lightning-fast acceleration and a max speed of 120 kmph. With a range of 200 kilometres on a single charge. The bike gets fully charged within 3 hours and is ideal for both daily commuting and long outings.

The EV startup has established its R&D centre in the United Kingdom and Development centre in Jodhpur, Rajasthan. While conducting research in the UK, DEVOT Motors CEO, brought the development of a revolutionary electric motorcycle with the 200kms range to his hometown Jodhpur and formed a startup in India. DEVOT Motors showcased its electric motorcycle at Auto Expo 2023. The brand has set a target of 70-90% localization, with the bike expected to hit Indian roads by the middle of 2023 after homologation. After conducting comprehensive market research, identifying customer likes and dislikes, developing the entire supplier base, prototyping, endurance testing, and so on, the EV startup is all geared up to catch the attention of riders who don’t compromise on comfort and performance. Aesthetically, the bike has a very clean retro design, with great paint options for the tank and side cover panels. 

Varun Deo Panwar, Founder & CEO, DEVOT Motors with Bike at Auto Expo 2023

On the product unveiling Varun Deo Panwar, Founder & CEO, DEVOT Motors, said, “A fantastic electric motorcycle is the result of motorcycle enthusiast passion.As the electric bike market continues to expand, we designed our vehicle offering to meet untapped customer requirements. Our EV bike is the culmination of our team’s diligent research and vision to shape a two-wheeler that not only performs in extreme conditions but also embodies sustainability and excellence. With its state-of-the-art technology and striking configuration, we truly believe that it has the ability to modernise the electric bike segment. The response we received to date is overwhelming and we can’t wait for the official launch. Moreover, I’d like to thank Auto Expo management for providing us with a platform to showcase our product portfolio and raise awareness about EV penetration.”

For the rider’s convenience, the bike comes with advanced features such as TFT Screen, a Keyless system with antitheft and a type 2 charging point. The Lithium LFP battery provided by DEVOT Motors is less susceptible to issues caused by the depth of discharge. In addition to its powerful performance, DEVOT crafted the bike keeping environmental sustainability in mind. With lower emissions and low energy consumption, the EV bike is a greener alternative to conventional petroleum-based motorbikes.

About DEVOT Motors

DEVOT Motors, founded in 2019, intends to bring a line of affordable innovative environmentally friendly motorcycles to their Indian homeland. DEVOT has extensive experience in the British and Indian automotive industries and is on a mission to raise awareness among people about the perks of adopting electric vehicles.

Pune Based EV Startup Weber Drivetrain Partners with China-based Wuxi Lingbo Electronic Technology

Under this TT Partnership, Weber Drivetrain has committed to the complete MAKE IN INDIA manufacturing of Controller and BMS for electric two-wheeler vehicles

Weber Drivetrain, a technology-driven EV startup for sustainability has announced a strategic Technology Transfer (TT) partnership with China-based Wuxi Lingbo Electronic Technology. Under this collaboration, Weber Drivetrain has committed to the complete MAKE IN INDIA manufacturing of Controller and BMS for electric two-wheeler vehicles.

Wuxi Lingbo has granted Weber Drivetrain two innovative patent technologies along with all design, Architecture, Layout , Hardware designs and software, ushering in a new phase of development in the Indian EV market. The EV startup is all geared up to market its set of products by January 2023.

Weber Drivetrain Pvt. Ltd. is a technology-driven organization in the Design, Development, Testing, Validation and Manufacturing of electric motors and controllers for electric vehicles.

On this partnership Prashant Shete, Founder and MD, Weber Drivetrain affirmed, “Amid a sustained government push and increased acceptability of electric vehicles (EV), we at Weber Drivetrain are extremely thrilled to have joined hands with Wuxi Lingbo Electronic Technology. As there is significant pent-up customer demand for us to fulfil, the technology transfer will be valuable for the advancement and upgradation of Controller and BMS for electric vehicles. We also believe that this strategic investment will further deepen our partnership with Wuxi Lingbo in advancing innovation in the electric two-wheelers segment in India.”

“Over the past few years, as demand for new electric two-wheelers vehicles in the Indian market has grown, we have witnessed a rapid expansion of automakers entering the EV space. We are pleased to partner with Weber Drivetrain as this tie-up will empower Wuxi Lingbo Electronic Technology to capitalise on the right opportunity on the business front in India. Besides that, we pledge our full support to Weber Drivetrain on all fronts as they proceed to revolutionize the EV market in India” said company officials, Wuxi Lingbo .

Established in March 2016, Wuxi Lingbo Electronic Technology Co., Ltd is a high-tech company that focuses on the overall solution of the electric control system in the field of electric vehicles. The Wuxi China-based company is a leading technology enterprise in the fields of brushless DC motor (BLDCM), permanent magnet synchronous motor (PMSM) controller (PDU), lithium battery management system (BMS), and vehicle control unit (VCU). Additionally, the Chinese company has an annual output of 1.5 million sets of various controllers and 700,000 sets of BMS.

Last month, Weber Drivetrain marked its first step into the Indian EV market with the launch of its state-of-the-art automated manufacturing facility based in Chakan MIDC, Pune, Maharashtra. Through a combination of in-house and collaborative R&D, Weber Drivetrain committed a total investment of 35 crores in Phase 1 for the establishment of a manufacturing unit under the “MAKE IN INDIA” initiative for the future of E-Mobility. The manufacturing plant will incorporate major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery, to produce 100% Made in India BLDC HUB Motors and Controllers for Electric Vehicles in accordance with Indian market regulatory standards.

About Weber Drivetrain

Weber Drivetrain is the Technology Driven Organization in the Design , Development, Testing , Validation and Manufacturing of Electric Motor and Controller for EV. Weber Drivetrain having a wide range of products available from 0.25 kW to 4 kW capacity and can serve E-bicycles, E-Scooters and E-Motorcycles. Through a combination of inhouse and collaborative R&D, Weber has established a completely indigenous drivetrain Manufacturing under “MAKE IN INDIA” initiative for Future of E-Mobility.

The state of Art automated manufacturing facility is based in Pune, Maharashtra with having massive experience and expertise in Vehicle Design and Development, also provides end to end vehicle integration solution to the Vehicle Manufacturing OEM’