Exclusive electric motorcycle Startup Raptee has secured USD 3 mn in a Pre Series A round led by Bluehill Capital.
Industry major players like Chandu Nair, Director of Shankara Building Products, Ramesh Kannan, Managing Director of Kaynes Technology, Lakshmi Narayanan, Former CEO of Cognizant, and Eugene Mayne, Founder and CEO of Tristar Global (UAE), participated in the all-equity funding round.
According to the company, the money will be used to expand the manufacturing facility, buy machinery, and tooling for a soon-to-be-released motorcycle, and grow the team.
Dinesh Arjun, Co-founder CEO, Raptee, said, “India is the largest motorcycle market in the world, with EV adoption on the rise. At Raptee, we want to launch a motorcycle in a mid-premium segment for consumers who believe that EVs are a true upgrade from ICE vehicles. We are extremely fortunate to be backed by investors from the manufacturing and transportation industries who understand long-term value creation and can add strategic value for us as we gear up for production and scale up.”
This being our first institutional round, we’re also proud to be backed by a DeepTech VC, Bluehill Capital. We’ve been refining and testing our vehicles, and the results are very promising. We are looking forward to launching it very soon, he added.
The goal of Raptee was to create an electric motorbike with superior performance to any conventional vehicle. Their electric vehicle is trouble-free, low maintenance, and self-sufficient. Innovation, technology, and sustainability working together to transform mobility forever.
Manu Iyer, CEO & Partner, Bluehill Capital, said, “We strongly share the vision of the Raptee team to build world-class core EV technology right here in Chennai, India in a focused and cost-effective manner. Dinesh and his co-founders have diligently built the vehicle platform indigenously with intellectual property on various aspects of the vehicle sub-system. Having evaluated over 30 EV OEMs in India and having invested deeply in the EV and clean-tech ecosystem in India, we are impressed by Raptee’s cutting edge tech and excited to partner with them on their journey. We believe Raptee’s motorcycles will change the face of EV 2-Wheelers in India,”
Raptee motorcycles are user-friendly and designed to outperform vehicles with conventional engines, demonstrating that going electric is not a trade-off. They are loaded with cutting-edge technology to improve every ride you take, and they are intelligent, strong, energy-efficient, and powerful. When it comes to performance, safety, reliability, longevity, comfort, and cost of ownership, Raptee wants to outperform its ICE rivals.