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eBikeGo-owned Vajram Electric raises Rs 12.24 crore funding

At present, eBikeGo has more than 2500 active two-wheelers in its fleet for EV rental and subscription.

eBikeGo-owned Vajram Electric raises Rs 12.24 crore funding

Vajram Electric, a fully-owned subsidiary of eBikeGo has raised a funding of $1.5 million (Rs 12.24 crore). The company said that it is developing an EV 2-wheeler powertrain which will enable multiple vehicle configurations. 

eBikeGo will be launching its flagship vehicle, MUVI, with the manufacturing scheduled to commence by April 2023. 

MUVI is a European-designed, 4th Generation electric vehicle that is economical and connected, the company said.

MUVI comes with a 16-inch wheel platform, two removable lithium-ion battery packs – stored under the seat – that can either be swapped with fully-charged packs at a swap station or charged at home using a standard plug point (with a claimed charge time of three hours). When fully charged, MUVI offers a reliable range of up to 103 km.

Irfan Khan, Founder & CEO, eBikeGo said, “We aim to capture as much as 5% of the 2 – wheeler EV market in India. The company is making significant investments in transportation data science, which not only helps manage highly optimised delivery operations but also “enhances asset life,” increases asset ROI, and lowers downtime by 30–40%”.

At present, eBikeGo has more than 2500 active two-wheelers in its fleet for EV rental and subscription and said that it has collected around 1 petabyte of data through conscious monitoring of its fleet.

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