After a successful debut in the Indian market, EMotorad, the e-cycle brand plans to expand its venture and now eyes the US market. They are currently utilizing their funds majorly for the US market while the remaining 30% will be used for the Indian market.
With a strategically raised seed funding of USD 3 Million, EM is now seeking the right group of investors for growth in the USA and is also focusing on product development for other form factors.
“With our mission to make a name for India in the world of EV across the globe, we are now ready to go out and battle in highly competitive markets, and with that, we have taken a successful step towards Japan which is known for its quality around the world and we are confident to prove our mettle and build confidence in the users across the world with what an Indian startup can bring in terms of quality. We are also preparing to enter more competitive and bigger markets soon,” said Rajib Gangopadhyay, Founder, EMotorad.
EMotorad is globally present in many geographies. Alongside on-boarding 160+ dealers in India, EM currently is present across 82 towns and cities in India and abroad. B2B will have a major impact on EMotorad’s next move, though their current concentration will majorly be on meeting the needs of the Indian market and expanding to the global market. They are currently present in India, UAE, Japan, and Nepal.
Talking about the India expansion, Sumedh Battewar, Co-Founder & Chief Business Officer, EMotorad, said, “Although we have an extensive offline presence across the country, we do not go out and accept any or every dealership request we receive. Instead, we have a very strategic outlook on this. We strive to only partner with a certain set of dealerships as our criteria revolve around the depth of knowledge of the dealers and what education can be imparted to the consumers through our partners.”
Factors such as growing demand for low emission commuting and governments supporting long-range, zero-emission vehicles through subsidies & tax rebates have to meet the growing demand for electric vehicles in the market recently.
“The time is just right for anyone in the world to step into EV. It is the one technology that is showing adoption across the globe on a scale. EV today is like IT in the late 90s. The future is bright and most path-breaking innovations will take place in the next 5 to 10 years,” concluded Rajib Gangopadhya, Founder, EMotorad.
EMotorad was founded in 2020 and has its presence across 160+ offline dealers in 82 cities in the country. The company has sold over 9,000 e-cycles in India since its launch, besides exporting 6,300 of its bikes to the UAE, Japan, and Nepal.
Founded by Rajib Gangopadhyay, Kunal Gupta, Aditya Oza, and Sumedh Battewar, the EV startup aims to bring across premium quality electric cycles at an affordable price, utilizing its local sourcing and manufacturing capabilities.
