Electric vehicle startup, kWh Bikes, raises $2 mn to develop its prototype

Bengaluru-based electric two-wheeler startup, kWh Bikes, raises a new $2 million investment round.

The startup’s product has been designed and the company has built a prototype of the bike, which sees a range of 150 kilometers on every full charge, and reaches a top speed of 70 kilometers per hour.

The electric bike is currently aimed at the business-to-business sector. The seed investment round will be put toward producing the bikes out of the prototype stage, as well as research and development plans, among other areas. The company was founded in 2020 by Kartik Gupta and Siddharth Janghu.

“With these funds, we are gearing up to extensively test our prototype, continue our work on components like the battery, motor, and VCU, get them homologated, and enter into batch production,” Co-founder and CEO at kWh Bikes, Siddharth Janghu said, as reported by Economic Times.

The startup’s bike is planned to be a multi-use product, with kWh Bikes having future plans to expand the bike into the retail sector.

Investors in the round include LetsVenture, Better Capital, Cloud Capital, Renu Satti, Vijay Shekhar Sharma, Rajiv Nazareth, Paresh Sukthankar and Dipak Gupta.

“With favourable regulations coming into play, we are looking forward to working with Siddharth and the team who now look to scale the future of electric mobility,” Sunitha Ramaswamy of LetsVenture said, Economic Times reported.

(Picture courtesy: kWh Bikes)

 

 

 

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