EV Maker BGauss Raises Rs 161 Cr From Bharat Value Fund

Electric vehicle maker BGauss has raised ₹161 crores in funding from Bharat Value Fund, a mid-market growth fund managed by financial services firm Pantomath.  

The funding includes both primary and secondary capital. With this support, the company plans to speed up its growth, expand in India and overseas, and strengthen its research and development for new product launches.

The startup also plans to grow its dealership network from 120 to 500 and set up over 1,000 service points nationwide. The company also plans to increase its manufacturing capacity, currently at 1 lakh units per year, as demand rises.

Read also - Aragen Raises $100 Mn From Quadria Capital

Hemant Kabra, Founder and Managing Director of BGauss, said, "This funding will accelerate our mission to be among the top five EV two-wheeler players and bring cutting-edge, reliable electric scooters to the market. We look forward to expanding our dealer network, boosting manufacturing capacity, and delivering two exciting new products fully designed, engineered, and made for India."

Bharat Value Fund CIO, Madhu Lunawat said, "As early advocates of sustainable mobility, we have been actively tracking and supporting eco-friendly initiatives since pre-pandemic times. With this transaction, both teams shall work together towards creating a greener tomorrow."

The startup plans to expand internationally, starting with Europe and SAARC countries.

In april 2022, BGauss raised $6.8 million in a Series A funding round at $21.5 million valuation. 

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About BGauss

Founded in 2020 by Hemant Kabra (director at RR Kabel) , BGauss is a electric vehicle maker startup and it has over 40,000 customers and holds a 1.5% share of India’s electric two-wheeler market.

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