Bengaluru based India’s first electric bike Emflux Motors has secured ₹2 Cr in fresh capital from existing and new investors.
The investors participated in this round were R Gopal Reddy, MD of Concorde Group, Narendra Sujan, Director of Sujan Group, Fabian Brian Crain, Co-founder of Chorus One and Epicenter, and existing investors – Meher Roy & Risabh Gupta along with other HNIs.
Founded by Varun Mittal and Ankit Khatry, Emflux motors planning to launch it’s first prototype a sports bike in October 2018. The bike is estimated to be priced between ₹5 Lakhs to 6 Lakhs.
The charging time of bike is- from 0-80% in 36 minutes. The company was also showcased in Auto Expo 2018 in Hall 08. The bikes will be given a 5-year warranty.
Electric Vehicles are no doubt the future of the world, but how long will it take to penetrate in the Indian market, it is yet to be figured out. The company, however, has a saleable formula by 2019. Other players like Ather Energy, Tork Motorcycles, and Ultraviolette are also in the electric bike space.