Electric Vehicle Startups – The Game Changers
The core reason for technological innovations to emerge is to untangle the complications of human lives. One such game-changer is the electric vehicle which will contribute to clearing up pollution-causing emissions by CO2 to 37%. It also makes the automobile cost-effective. India’s traditional automobile proved to be one of the largest in the world, hence sowing seeds for an electric vehicle would be promising. With the National Electric Mobility Mission and The government’s EV policy, the realistic expectation of 40-45% EV conversion by 2030 is possible. A look at the top 5 electric vehicle startups in India.
Intelligent electric vehicle as the name suggests double-decker innovation. The Bengaluru based startup was founded in 2013 by Tarun Mehta and Swapnil Jain. The Sachin Bansal backed startup has raised $91M with 4 funding rounds with other investors being HeroMotoCorp Ltd, Innoven capital and Tiger Global Management. Notably, the initial funding support was from IIT Madras. Its existing products include Ather 450 (Electric scooter), Ather Grid (Charging network), Ather space (Experience center). The startup also offers doorstep delivery touching the logistics space.
Founded by 4 members, the Mumbai based startup has produced maddening speed powered T6X which involves features such as a mobile app, instant tork, utility storage, long-range. Tork has raised $4.7M from Ankit Bhati, Bhavish Aggarwal, Bharat Forge and has an overall revenue of approximately $704K. The intelligent vehicle of Tork has analysis and compilation of data for every ride, power management, real-time power consumption, and
The electric arm of Greaves cotton is based out of Coimbatore and founded by CEO Hemalatha Annamalai. The startup has a surprising number of investors pooling in investments including Ratan Tata. It has raised ₹200M as on whole with an estimated revenue of about $2.5M. Ampere holds the pride of having a range of 4 different affordable electric scooters.
Founded in the year 2016 by Varin Mittal, Ankit Khatri and Vinay Raj Shamashekhar, the Bengaluru based startup have the crown of the first electric superbike producer in India. The startup was initially bootstrapped by 2 founding members. It offers a variety of electric vehicle-based products such as Motors, Battery, charger circuit and etc. Funding amount of $538.8K has been flown into the startup with 4 funding rounds.
The smart urban mobility startup was founded by 4 members namely Pratik Gupta, Jean-Lue Abazion, Dr.Gilmer Blankeinship. The disruptive startup aiming to re-design cars has produced the awe product Storm-R3. The startup is backed by Indian Angel Network and got the attention of people by bagging the award of top 10 technological startups by the government of India.