EV Maker Opens Doors to Strategic Investors In Banglore
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About Business
Founded in 2015 by a team of experienced engineers with over three decades of expertise in the automotive sector, this electric vehicle (EV) company was incorporated in Bengaluru under the Companies Act, 2013. The vision was to demonstrate that EVs could outperform traditional gasoline vehicles by offering instant torque, strong power, and zero emissions.
The company's mission is to become a leading name in the development and manufacturing of next-generation electric vehicles that are both affordable and accessible to the wider population, while addressing growing environmental concerns.
With a strong emphasis on in-house R&D and a "Make in India" approach, the company has developed three new EV models - SQD, E2C, and E2C-D - across 18 variants, ready for commercial launch. These models serve both B2B and B2C markets and are engineered to match or exceed the performance of top-selling internal combustion engine (ICE) two-wheelers, while also aligning with future compliance standards like FAME III.
Model Highlights:
SQD
- Sporty and functional design with modern appeal
- Ergonomically designed for fatigue-free riding
- Built for comfort and ease of use
- Suitable for all age groups
- Offers 30L boot space plus ample legroom
E2C
- Handles various terrains, including heavy traffic and rough roads.
- Multipurpose usage ideal for family and urban commuting
- Equipped with a Single Tube Oval High Steel Chassis
- Over 80% of the structure features a metallic body.
E2C-D
- First delivery-focused electric vehicle approved by ARAI in India
- Designed for B2B applications such as logistics, e-commerce, and ride-hailing
- Prioritizes rider comfort for long operational hours
The manufacturing facility in Bengaluru is currently capable of producing 50 vehicles per day, with scalability to double the capacity to 100 vehicles per day. The plant features a 12-stage, in-house, semi-automated conveyor line with integrated online inspection systems, ensuring consistent quality control.
Battery packs are developed in-house and assembled by a local third-party vendor. The company owns all critical tooling assets, including injection molds for body panels, die-casting molds for alloy wheels, pillion handholds, footrests, and lighting systems for all its models.
Clientele type
Our major clients are B2C and B2B, where B2B includes logistic companies, last mile deliveries, E commerce, bike taxis, Rental bikes, Food and essential deliveries.
Premises
LEASED
Lease per month (in INR): 2.00 L
Security Deposit (in INR): 15.00 L
Carpet Area: 10,000 sq ft
The company is located on Old Madras Road, Avalahalli, Bengaluru, approximately 35 km from the international airport. It has established partnerships with reputed Indian suppliers for the development, manufacturing, and Just-In-Time (JIT) supply of quality components.
Asking Price Includes
Equity stake offered to the investor.
Asking Price
INR 25.00 Cr
Minimum ticket size
INR 1.00 Cr
Reason
The company is currently raising equity capital to support strategic growth initiatives, which include scaling up marketing efforts, expanding showroom presence across India in a phased manner, and increasing production capacity. The focus is on strengthening the B2C sales network while capitalizing on rising demand from the B2B segment.
More Details
Founder & Chairman
An industry veteran with over 30 years of experience in operational excellence, product innovation, and commercialization in the automotive sector. Former CEO of a leading automotive company, with global exposure through collaborations and travels across Germany, Japan, South Korea, the UK, and the USA. Played a role in the early model development of a globally renowned EV brand between 2005 - 2007 and continued supplying components until 2011. Holds an MBA and GMP from top business schools, multiple international patents, and has received notable industry awards for entrepreneurship and innovation.
Co-founder & Joint Managing Director
An engineer with an MBA, bringing over a decade of experience in manufacturing, technology innovation, and R&D. Passionate about making electric two-wheelers that match the performance of traditional gasoline vehicles. Co-inventor with two patents filed and 18 design copyrights (15 granted), including several at full vehicle and sub-system levels. Recognized among "40 Under 40" leaders in the EV sector.
Vice President
Holds multiple postgraduate credentials in automotive engineering, artificial intelligence, machine learning, and business management from globally reputed institutions. Brings over 18 years of experience with leading automotive brands in areas like EMS, telematics, and powertrain. A specialist in data analytics and emerging technologies, contributing significantly across the value chain from suppliers to end customers.
Director
An instrumentation engineer with a focus on administration, finance, and backend operations. Proficient in digital marketing strategies, with training in advanced techniques for new-age outreach.
Recognition
- First model won Electric Scooter of the Year (2019) from a national industry body
- Received Technology Excellence of the Year (2022) for design and modelling
- Awarded Smart Technology of the Year (2021) for advanced ECU systems
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