EV startup iGoWise Mobility (iGo) raises Rs 8.2 crore from ISB Angels, others

Bengaluru-based iGoWise Mobility (iGo), a developer of smart electric trikes, has raised Rs 8.2 crore in a pre-seed funding round from ISB Angels, 888VC, and Guptaji VC, PTI reported.

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The startup plans to utilise the raised capital towards tooling and automation to lower production costs, strengthening customer experience and after-sales networks, advancing research and development, and supporting working capital to fulfill its current order pipeline.

Founded in 2020 by Sravan K Appana, iGo builds rugged and intelligent EV platforms designed for both urban India and rural markets. Its flagship product, BeiGo, is positioned as India’s first electric pickup trike. Equipped with patented anti-topple leaning and on-demand self-balancing technology, BeiGo is aimed at bridging the gap between two-wheelers and larger, costlier vehicles.

According to the startup, its trikes are up to five times more cost-effective, three times more energy-efficient, and twice as compact as comparable global peers. The proprietary TwiiGo lightEV platform underpins the vehicles, designed to handle diverse terrains, heavy traffic, and steep inclines, while features such as triple-disc anti-skid CBS add to rider safety.

iGo claims to have logged more than 1 lakh kilometers of real-world customer usage data and plans to deploy 1,500 trikes over the next 12-18 months through fleet partners including Hala Mobility and Elektrik Express, across Bengaluru, Hyderabad, Pune, and Panjim.

The startup also claims its vehicles can boost rider income potential by up to Rs 7,500 a month, offering both economic and environmental gains. Its first commercial launch, the BeiGo Rugged Utility Vehicle, is set to hit the market after 32 months of development.