# EMotorad

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/emotorad

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Pune, India
- Website: www.emotorad.com
- Total disclosed funding: $20M
- Latest round: Series B (Nov 27, 2023)
- Investors on record: 4

## About

Based in India, EMotorad is a technology company specializing in the design and manufacture of electric bicycles, providing eco-friendly transportation solutions for diverse user needs.Founded in 2020 in Pune, India, EMotorad focuses on producing electric cycles. The company's founders include Aditya Oza, Aniket Bora, Basant Lohia, Kapil Mandlik, Kunal Gupta, Rajib Gangopadhyay, Shrishti Churhe, and Sumedh Battewar. The latest funding round occurred on April 16, 2024, with the company raising USD 2.50 mn in VENTURE DEBT, contributing to a total funding amount of USD 20.00 mn. EMotorad has completed five deals to date.EMotorad specializes in the design and manufacturing of electric cycles (e-cycles) suitable for various users, including urban commuters and adventure enthusiasts. Their main product lineup features models like the Doodle Pro, X-Factor, and T-Rex series, all offering advanced features such as digital displays, durable batteries, and high-performance motors. These e-cycles provide an efficient and eco-friendly commuting option, targeting users across all age groups and fitness levels, with an emphasis on accessibility and inclusivity. Currently, their products are primarily marketed in India, with plans for potential global expansion.In 2023, EMotorad reported a revenue of USD 15.93 mn, while the EBITDA for the same year was USD -1.13 mn. The company generates revenue through direct sales of its e-cycles to consumers, with flagship models priced between INR 24,999 and INR 79,999. They utilize a straightforward sales model that includes retail and e-commerce channels, along with financing options such as Equated Monthly Installments (EMIs), enhancing accessibility for a wider audience.EMotorad is focused on launching new products and expanding its market reach. The company is designing additional e-cycle models, although specific release dates are not stated. They aim to enter new markets, particularly internationally, in the coming years. Recent funding from the April 2024 deal will be allocated to support these initiatives and facilitate further product development and market expansion.

## Funding rounds

- Series B, Nov 27, 2023, $20M — Alteria Capital, xto10x Technologies Pvt Ltd, Green Frontier Capital, Panthera Growth Partners

## Investors

- Alteria Capital (https://capitalatlas.ai/funds/alteria-capital) — Series B
- xto10x Technologies Pvt Ltd — Series B
- Green Frontier Capital (https://capitalatlas.ai/funds/green-frontier-capital) — Series B
- Panthera Growth Partners (https://capitalatlas.ai/funds/panthera-growth-partners) — Series B