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Bolt Bikes Raises $11 Million, Rebrand to Zoomo

25Aug By NitishNo Comments

FUNDING

Bolt Bikes Raises $11 Million, Rebrand to Zoomo

NEW YORK, 24th Aug 2020-- Bolt Bikes, the mobility startup raises USD $11 million to invest in expanding its operations in the United States and move into new categories globally. Along with the capital raise, the Australia-based startup is also announcing a rebrand with a new name, Zoomo, and a new logo. The Australian Clean Energy Finance Corporation (CEFC) led the capital raise with a USD $5 million equity investment. Equity investment from Hana Ventures and existing investors Maniv Mobility and Contrarian Ventures, together with venture debt from OneVentures and Viola Credit, completed the capital raise. Zoomo will use the capital to launch a flagship brick-and-mortar operation in Los Angeles and expand its New York footprint to include services across the entire city. The st...

Ather Energy Appoints Former Apple India Head as a CFO

27Dec By PriyankaNo Comments

News

Ather Energy Appoints Former Apple India Head as a CFO

New Delhi, Dec 26, 2019: Hero MotoCorp-backed electric two-wheeler startup Ather Energy appointed Deepak Jain as its Chief Financial Officer. Jain, who has worked with the likes of Apple India, P&G and Gillette over the past 20 years, joins Ather from First Advantage, where he was CFO for India business, the company said in a statement. Commenting on the appointment, Ather Energy co-founder & CEO Tarun Mehta said Jain has scaled up technology and product-led companies making him an ideal addition to Ather''s team. "Deepak''s experience in leading teams and integrating manufacturing and business processes will play a key role in the next part of our story," he said, adding for a rapidly expanding company like Ather, an important focus area is laying the structure for effect...

Hero MotoCorp denies investing in Blu Smart Mobility

29Aug By NitishNo Comments

News

Hero MotoCorp denies investing in Blu Smart Mobility

India's largest two-wheeler maker Hero MotoCorp Ltd on August 19 denied that it has participated in the funding round of Blu Smart Mobility, while threatening to take legal action against e-mobility start-up. Last week, Blu Smart Mobility had claimed that it had raised a $2.2 million in an angel round from multiple investors, led by JITO Angel Network. The start-up had said "apart from JITO Angel Network, other funds who participated in the Angel round included Hero Motocorp, MayField Fund and Centrum, Micromax and few individual investors among others". Denying its investment in the Blu Smart Mobility, Hero MotoCorp said the company "strongly denies any such participation and/or any investment made in Blu Smart Mobility". Further, it is clarified that Hero MotoCorp neither rel...

16Apr By NitishNo Comments

FUNDING

India’s First Electric Bike Company Raises 2 Crore Funding

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...

Electric Bike Manufacturer Raises 2.8 Crore From Founder of Zoho

9Mar By Sheldan RungasamyNo Comments

FUNDING

Electric Bike Manufacturer Raises 2.8 Crore From Founder of Zoho

Ultraviolette Automotive Private Ltd., a Bangalore-based electric bike company was allotted 3,848 equity shares of INR 10/- at a premium of INR 7,399/- in February according to regulatory filings. After which, Kumar Vembu’s founder of Zoho & Go-frugal Technologies invested INR 2.8 Crore in the company. Back in December, TVS announced to have bought a 14.78% stake in startup Ultraviolette Automotive Pvt. Ltd. The company already tested three prototypes despite not launching any electric two-wheelers yet. It has already crafted its business model which projects the delivery of motorcycles by the end of 2018. They amassed a total revenue of INR 3.21 lakhs in 2016-17 and only generated INR 31,570 in 2015-16. The automotive company believes in the future with clean energy and sustaina...

India’s First Electric Bike Launched at Auto Expo 2018

8Feb By RishabhNo Comments

Automobile, Tech

India’s First Electric Bike Launched at Auto Expo 2018

Bengaluru based tech startup Emflux Motors has launched India's first electric superbike what they call 'Emflux One' at the Auto Expo 2018 amidst high speed electric cars. The obvious, Kitna deti hai(what is the average and price)? Emflux One is a high-power beauty powered by Samsung's Li-Ion Batteries, that includes the Samsung SDi Cells which gives it a 200 km pump without compromising on acceleration and speed, the company says. The bike is powered by 60 kW AC induction motor, with power limited to 53 kW from the controller, which gives it a speed of 200 kmph (around 124 mph). The bike can reach from 0-100 km/h in just 3 seconds (for techies out there - the motor provides a torque of 84 Nm @ 8400 rpm, which is pretty amazing given it is battery powered). The highway r...

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

27Oct By AdityaNo Comments

FUNDING

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

Ather Energy, India’s first smart electric scooter startup has raised 205 Cr Series B funding from India's leading Bike Company Hero Motocorp. The startup will use this funding in engineering and production work for the S340 (Ather's first e-scooter model) and on ubiquitous charging infrastructure. The startup has already raises funding from investors like Tiger Global and Sachin and Binny Bansal. But this is the first time Ather Energy investor list includes any automobile veteran. Ather Energy in a press release said, "Hero understands where the future of vehicles is headed. And this change will be quite a rapid one which will change the landscape of this industry. One cannot sit on the side-lines. One cannot not participate. A company of their size cannot move like a start-up but ...

Make in India- India’s First Crossover Electric Bike Volta ZAP Launched

13Sep By NitishNo Comments

News

Make in India- India’s First Crossover Electric Bike Volta ZAP Launched

India has been constantly facing many problems due to the immense vehicular pollution each and every day. The automotive pollution is growing day by day, posing threat to this environment. Though the Indian government is taking some huge actions to reduce the pollution, the effect of vehicular pollution is still growing and affecting Indian cities. Electric vehicles are the new weapons to face the pollution but the E-vehicle companies were constantly failing in producing reliable and aesthetic E-bike products. They have been facing many problems to produce bikes with a fair design, efficiency and economy that sustains in Indian conditions. Volta Motors has studied every such failures happening in the industry and designed the India’s first cross over Electric bike Volta ZAP. The pro...