Bengaluru-based EV startup Orxa Energies took to fame when it did an all-India run on its electric motorcycle christened ‘Mantis’. In a segment that is racing to offer electric scooters, Orxa Energies says it has taken time to study the two-wheeler market in India and chose to go the performance motorcycle way and is gearing up to launch the Mantis in India soon.
However, before the launch, Orxa Energies has yet to set up its manufacturing facility as it targets to sell around 5,000 units in the first year. To do so, the company has raised funds in the past but its the biggest yet in its latest round of funding from the SAR group, which will help accelerate the launch of the Mantis for Orxa.
The SAR group has multiple businesses under its arm, including an electric two-wheeler brand called Lectrix E-Vehicles. The funding will primarily facilitate Orxa Energies in three ways — accelerate the launch of the Mantis, help with the new production facility, and assist with the certifications and production readiness of the e-motorcycle. Orxa has already signed the necessary contracts and as per Ranjita Ravi, Co-founder, Orxa Energies, “We should be moving to the new manufacturing facility in a few months.”
The EV maker will be moving to its new manufacturing facility in a few months, which will also house its R&D Centre. Orxa wants to stay true to its origin and keep engineering ahead of anything else. The facility will be capable of manufacturing upto 50,000 units per annum if demand rises, however, the company wants to focus on smaller numbers as of now and scale up gradually.
Orxa will use the SAR group’s know-how about the market, distribution, production, and supply chain to launch its first product. The collaboration will also help both companies work on early-stage EV tech that will help the company develop future products — more electric motorcycles. Also, the funding gives SAR group a significant minority in Orxa Energies.
To date, Orxa Energies says it has received several queries showing interest in the Mantis over emails and social media, however, the company has not started taking in official pre-bookings. Pre-bookings for the Mantis will start in the next financial year and deliveries will begin soon after. Orxa is looking at approaching customers directly in terms of sales, at least for the first 1,000 units before setting up dealerships.
So far, Orxa Energies has completed three rounds of funding and will raise more next year, which will go towards the development of other electric two-wheelers that will compete in the 200 to 300cc motorcycle segment.