eBikeGo, a electrical two-wheeler mobility platform, not too long ago secured funding of $3.5 million (Rs 27 crore) from Kuwaiti investor Sivaram Juvva and his firm Al Tebah for Telecommunications Materials Systems & Devices Company, in addition to from Omani investor, Ivor Braganza and his firm Muscat International Project Management & Services, together with different Individuals from the business, again in March – April.
The firm had beforehand obtained $1.5 million (Rs 12 crore) in pre-Series A funding from a mix of abroad and Indian buyers, thus securing complete funding of $5 Million to this point. Now, the corporate is aiming to lift $25 million additional.
Over the final 3 years, to know the Indian EV market, eBikeGo claims that it has deployed round 2,000 electrical two-wheelers on the B2B platform. Each automobile was powered by a proprietary AI-based enterprise intelligence unit named eBG Matics by which the corporate gathered 1 Petabyte of knowledge.
With additional evaluation of the info, eBikeGo deduced that presently, there isn’t any such superb automobile to cater to the quick wants of the Indian Market. With the setback within the Indian EV area attributable to autos continuously catching hearth, resulting from poor meeting and weak battery chemistry, eBikeGo presents an answer. With the usage of reliable LFP batteries, the corporate says it is engaged on merchandise that are secure and safe.
To present the market with an answer, the corporate made a acutely aware resolution to accumulate an EV portfolio from Torrot, a Spain-based 70 years previous Electric Vehicle Manufacturing firm named and gained the rights to confirmed EV disruptions particularly MUVI and Velocipedo. eBikeGo is at the moment engaged on localizing these autos as per Indian situations to efficiently produce and market them in India and Europe.
eBikeGo has meticulously laid out an growth technique to arrange a producing unit, concurrently starting manufacturing and launching these autos after acquiring funding. The firm hopes to launch Velocipedo and MUVI in 2023 with this funding.
Dr Irfan Khan, Founder & CEO of eBikeGo, stated, “With this investment, we hope to launch our proven EVs such as Muvi and Velocipedo and have a significant influence on the present status of electric mobility. We as a company are working towards becoming a robust OEM and thus, we aspire to drastically reduce carbon footprint not just in India but on a worldwide scale”
Source: www.financialexpress.com”