EMotorad raised Rs 24 crore in a Pre-series A led by Green Frontier Capital (GFC), an investment firm that specialises in climate investment, LetsVenture , and Ivy Growth Associates.
EMotorad (EM) is a Pune-based electric vehicle company that aims to provide eco-friendly, futuristic e-bikes at an affordable price for adventurers, daily commuters, and casual riders. The funds will be used to accelerate business growth, hire top industry talent, and scale the company. It also intends to incorporate advanced technology to change how consumers perceive cycling. Furthermore, it intends to build a layer of technology on top of the existing e-bike that will give users access to a one-of-a-kind cycling community platform focused on health and community benefits.