Indian EV entrepreneurs are providing the general public and other organisations with a wide range of services including sustainable transport, power infrastructure, commercial mobility, and batteries management solutions. Additionally, they provide a less expensive alternative to fossil fuels while also assisting in the reduction of carbon emissions. Here we have listed Top 10 EV startups that helps to keep our environment clean.
3EV Industries
In partnership with RUGGED Solar Products Pvt Ltd and ReBatt Limited, 3EV Industries was established in 2019. Customers in India can access last-mile hyperlocal connectivity through it. 3EV Industries received $2 million in startup capital from multiple family offices, including Credence Family Office, in November 2021. The firm was founded with the goals of the Indian government’s “Make in India” initiative. It produces cars for both the freight and passenger markets as well as kits for converting standard vehicles to electric. The last mile logistics are intended to be optimised using off-grid power technologies and renewable energy sources.
Ather Energy
Solutions for energy infrastructure and sustainable transportation are provided by Ather Energy. It produces the 450X and 450 Plus electric two-wheelers, which are available for purchase online and at physical retail locations. Ather received $128 Mn in Series E investment in May from Hero MotoCorp and the sovereign fund NIIF Limited. It also completed its Series E round with this one. Currently, it is trying to increase the size of its production facilities, charging infrastructure, and retail network.In order to accommodate the demand for electric scooters, it was previously reported that the EV company has opened a second manufacturing facility in Hosur. Its annual revenue rate (ARR) increased by 12X to $100 Mn in October 2021.
Baaz Bikes
A division of ElecTorq Technologies, Baaz Bikes, provides gig workers with micro-mobility solutions. By deploying its electric scooters for deliveries for businesses like Zomato, Amazon, and Grofers, it aids gig workers in making money. Pre-Series A investment round for Baaz Bikes garnered $2 million from Kalaari Capital, with participation from AdvantEdge, 9Unicorns, and Sumant Sinha of Renew Power. The electric scooters from the start-up can travel 60 kilometres on a single charge. Infrastructure for battery swapping has also been established in India. It asserts that two zones in Delhi have live switching infrastructure.
BluSmart
Through its smartphone app, BluSmart provides electric ride-hailing mobility services. It primarily offers urban clients environmentally friendly transportation options. In its Series A investment round, BluSmart obtained $25 Mn through stock and debt financing in May. BP Ventures, Green Frontier Capital, Stride Ventures, Alteria Capital, BlackSoil, and UCIC are a few of the investors who took part in the round. It has began offering intercity EV services between Delhi NCR and Chandigarh and Jaipur. At Delhi IGI Airport, EV services have also been reduced back. In order to increase its fleet to more than 5,000 vehicles, it is now aiming to extend its EV charging points throughout Delhi NCR.
ElectricPe
Customers may access charging infrastructure from ElectricPe. EV users may find nearby charging stations using their smartphone. Blume Ventures and Micelio Fund sponsored a $3 million early investment round for ElectricPe in November 2021. Anshuman Bapna of Terra.do, Anupam Mittal of Shaadi.com, Arjun Ravi Sheth of Anchorage Capital, Ashish Goel of Urban Ladder, and Bhuvan Gupta of OfBusiness all took part in the round. Hero Electric and ElectricPe have collaborated to install charging stations around India for its clients. The infrastructure for charging devices would be installed in office buildings, shopping centres, and other buildings. The collaboration intends to encourage EV adoption across India and enhance the charging infrastructure. Prior to this, NoBroker and ElectricPe had collaborated to install 1 lakh electric charging stations in residential areas.
Emflux Motors
Emflux Motors provides EV tech solutions and other sustainable mobility options. It offers for sale the Emflux One, an electric bicycle with a top speed of 200 kph and a range of up to 200 kilometres on a single charge. In addition to this, it also offers a technological stack for sale that includes a battery management system, motors, motor controllers, charger circuits, EVSEs, master controllers, and battery packs. Emflux Motors received $648K in angel finance in 2017. By 2027, the EV company wants to produce 10 million two-wheeler EVs in India. By producing high-performance electric vehicles, it primarily aims on increasing brand awareness and customer loyalty.
ETrio
Both commercial and non-commercial electrical mobility options are provided by Etrio. Its product line includes electric kits, electric light commercial vehicles (eLCVs) that have been converted, the three-wheeled Touro EV, and the Ashva and iSwitch bicycles. Bicycles were introduced to suit the demands of the cargo and personal segments, while eLCVs were introduced to revolutionise and electrify the logistics segment. Janardhan Rao of Triumph Global led a $3 million Series A fundraising round for ETrio in 2020. A group of HNIs with headquarters in Singapore took part in the round. Additionally, it holds certifications from a number of government agencies, including the ARAI, the Ministry of Micro, Small, and Medium Enterprises, and others.
EVage
Commercial options for green mobility are available from EVage. It intends to provide logistics businesses’ delivery fleets with electric commercial vehicles. RedBlue Capital just provided $28 Mn in startup capital to Evage. Its first model. A one-ton vehicle named X was created for the pick – up and delivery industry. The business says it is a provider to the delivery companies affiliated with Amazon India.
RACEnergy
RACEnergy creates retrofit kits that convert standard three-wheelers to electric cars. With the help of its battery exchange stations, it also offers energy infrastructure. According to reports, in 2021, growX ventures and Micelio Fund led a $1.3 million early investment round for the firm. Huddle, Prophetic Ventures, and BITSian Angels were a few of the investors in the round. The money from the round was invested in research and development (R&D), which improved the startup’s infrastructure and infrastructure-swapping technologies. Prior to this, growX ventures, Prophetic Ventures, and a few angel investors contributed $500K to a seed fundraising round. By 2023, it hopes to establish a sizable battery swapping network in India and expand to other continents.
Ultraviolette Automotive
Customers may purchase sustainable transportation options and energy infrastructure from Ultraviolette Automotive. On its website, the EV start-up offers batteries and the F77 electric bike, which emits no emissions. Ultraviolette Automotive raised INR 112.5 Cr (about $15 Mn) from TVS Motor and Zoho in December 2021. While TVS contributed INR 75 Cr to the company, Zoho contributed INR 38 Cr. Prior to this, TVS invested INR 30 Cr in the Series B fundraising round of Ultraviolette Automotive. As part of the Series B round, it received funding from Kumar Vembu of GoFrugal in October 2020 for an undisclosed sum. Vembu contributed to the Series A investment of the EV company.
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