Two-wheeler mobility startup BattRE secures an undisclosed amount of seed capital from a group of investors, including former Tata Motors executive Gajendra Chandel and Agility Ventures.
With a network of more than 400 dealerships spread over 21 states and 276 municipalities, BattRE is a formidable force in the nation. By 2025, the company hopes to generate $1 billion in revenue, as per reported by Business World.
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“Our electric two-wheelers (E2W) are riding on our strategic differentiators – deep distribution, competitive pricing with advanced features. With our ‘ahead-of-the-curve’ products, we aim to reach every Indian district by 2025. The seed fund will help us plan and execute this goal and enable the next phase of our growth,” said Nishchal Choudhary, Founder and CEO at BattRE.
BattRE is a startup that was founded and fostered with the aim of establishing all-inclusive and sustainable means of transportation using renewable energy sources. It was founded in 2017 in Jaipur, Rajasthan, by Nishchal Choudhary and Pankaj Sharma.
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Gajendra Chandel, former president of Tata Motors, Chairman of BattRE said, “Automotive is one of the Top 5, high-growth sectors in India and EVs are leading this amongst the Start-Up ecosystem. BattRE Electric was born out of a foresightful idea in the 2W space with the need for electrification that brings differentiated products and unparalleled service to the customers. Its discerning customer experience helped build a widespread network of dealerships across the country, making the products available in every town, serving the customers’ needs on real-time basis.”
The firm presently sells three products, two of which are low-speed scooters (under the brands “ONE” and “LO:EV”) and one of which is a high-speed scooter (under the brand “STOR:IE,” introduced in July 22). According to the business, two further products—a high-speed bike (DUNE) and a delivery scooter (Cool:IE)—are in the works.
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“EVs are the future of mobility and is poised to reach $13.8 billion market size by 2027 growing at a 100% CAGR and we are confident that BattRE would dominate the two-wheeler space in that segment with their deep distribution and competitive pricing strategy. We are confident that BattRE will be amongst the top four E2W companies in India by FY 23-24,” said Dhianu Das, Founder, Agility Ventures.
