EMotorad manufactures and sells a portfolio of 14 electric-bike models, assembling batteries, motors and other components at its Pune facility and exporting to more than 18 countries. The company sells both own-branded and white-labeled models and has brand presence in the U.S., Europe, Australia, Japan and parts of the Middle East. It runs a 50-member tech center in Bengaluru developing proprietary software and technology and has about 160 employees globally. Current Pune capacity is up to 90,000 bikes annually, and a new 150,000-square-foot facility due in the next three months is expected to raise capacity to 400,000 units per year with an in-house smart drivetrain. EMotorad has sold 80,000 units to date (40,000 last year) and generated nearly $36 million in cumulative revenues; it reported nearly $2 million in India revenue last year and aims for about $7.8 million this year. The company is targeting expansion of retail presence from 200 to 800 stores, global sales of 100,000 by FY2025, and reduced reliance on Chinese suppliers by developing key components in-house.

Total raised

$20M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2023