Monday, December 11, 2023
HomeInsightFunding Alert Vajram Electric Raises $1.5 Mn Seed Funding

[Funding alert] Vajram Electric Raises $1.5 Mn Seed Funding

[Funding alert] Vajram Electric Raises $1.5 Mn Seed Funding

In a seed fundraising round managed by Nikul Gala & family and featuring prominent HNIs like Anil Basa, Cyprian D’mello, and others, Vajram Electric raises $1.5 million.

The mission of Vajram Electric, a wholly owned subsidiary of eBikeGo, is to create a lineup of electric vehicles that will include the MUVI and Velocipedo, as per reported by BW Disrupt.

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“We aim to capture as much as 5 per cent of the 2 – wheeler EV market in India. The idea is to introduce and establish world-class, 4th generation electric vehicles from around the globe, such as the likes of Muvi and Velocipedo, and significantly impact the present state of electric mobility. 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 per cent. This is a powerful affirmation of the company’s business strategy and technological foundation, allowing us to expand swiftly while minimising the global carbon footprint” said Irfan Khan, Founder & CEO of eBikeGo.

The EV 2-wheeler power train, which will permit numerous vehicle layouts, is already being developed by Vajram Electric.

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With over 2500 active 2-Wheelers in its fleet for EV rental and subscription, eBikeGo has amassed roughly 1 petabytes of data through careful fleet monitoring. In the long run, eBikeGo will develop a complete EV ecosystem.

About Vajram Electric

eBikeGo has a 100% ownership stake in the subsidiary company Vajram Electric, which operates as a reliable electric vehicle original equipment manufacturer service.

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