Revolt Intellicorp Pvt. Ltd. has recently announced that it has raised Rs 150 crore funding from RattanIndia Enterprises Limited. As part of this deal, Rattan India Enterprises will be holding an equity share in the company with Rajiv Rattan joining as non-executive chairman of the board. Revolt Intellicorp says that it will leverage this collaboration to expand its footprint across India as well as South Asian markets. The aforementioned deal happens to be RattanIndia Enterprises’ first investment in an Indian start-up that is focussed on smart, clean, and eco-friendly transportation.
Revolt Motors says that it will deploy the fresh capital to expand the distributor and service network across the country to 35 cities. Moreover, the company will also be leveraging AI to upscale and provide a 100 percent in-house developed – Made in India, world-class contactless experience for the customers. Revolt Intellicorp currently sells two electric bikes in India namely RV400 and RV300.
Watch video | Our Revolt RV400 electric bike review:
Speaking on the investment, Rajiv Rattan, Founder and Chairman of RattanIndia Group said that the company is very excited to join hands with Revolt Intellicorp and be a part of the electric mobility shift that is undoubtedly poised to be at the forefront of India’s green revolution. He added that the brand is upbeat about the future of the sector as well as the product innovations that have come from Revolt Motors to date and with this endeavour, the brand hopes to be a part of the massification of smart, clean, and eco-friendly transportation for commuters across India.
Commenting about the latest announcement, Rahul Sharma, Founder, Revolt Intellicorp Pvt. Ltd, said that Revolt Intellicorp is determined at providing better and safer e-mobility solutions to the customers and despite the pandemic challenges, Revolt Motors has emerged as a global powerhouse expanding its footprint to 6 cities across India. Sharma says that the partnership with RattanIndia Enterprises Ltd., complements Revolt’s vision to offer eco-friendly transportation solutions as well as expand the brand’s reach to a larger base of customers across the top 35 Indian cities.