Image default

E-Bike Startup Gear Head Motors Raises Pre-seed Funding

Gear Head Motors, a Hyderabad-based e-bike startup, has raised Rs 6 crore in a pre-seed funding round. The round was led by angel investors Hemin Shah (Director of US-based talent firm Collabera) and Sudhakar Moparthy (Director of US-based IT company Skillbanc).

As per the startup, the raised funds will be used to expand operations across India and strengthen the company’s operating system, which is the country’s first for electric vehicles.

Gear Head Motors | e-Bikes

Founded by Nikhil Gunda and Meher Sai in 2020, Gear Head Motors aims to bridge the gap between the global supply of electric bikes or cycles and its Indian customers and make electric vehicles mainstream in the country.

With its products completely made in India and sustainable, the brand has delivered more than 8,000 tricycles and over 5,000 e-bikes so far.

Speaking about Gear Head Motors, Nikhil Gunda, Founder of GearHead Motors, said,

“Currently, there has been a rise of electric vehicle penetration in the Indian market by foreign companies trying to sell their substandard products. Due to these products being imported, they often do not align with Indian conditions, and hence the demand for electric vehicles in the market is seen to be on a decline. We came up with the idea to build a product that is affordable and will lead to an increase in homegrown products. Aligning with the needs of an Indian customer, hence, has been an important part of building this brand. With this, we are creating a sustainable and healthy ecosystem.”

[Read: Top 10 EV Startups In India Building A Greener Future]

The Hyderabad-based e-bike startup has established itself as a key player in the Indian market and has so far launched four e-bike models- L, I, F, and E.

As a part of its upcoming plans, Gear Head Motors is developing India’s first operating system for electric vehicles and other sustainable transportation means. The brand will be integrating facilities such as charging and exchanging electric vehicles.

Follow us and connect with us on Instagram, FacebookTwitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Companyregister a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, CFO Services, or other startup related legal servicescontact us.

Source link

Related posts

BharatPe acquires NBFC Trillion loans

Sarah Villa

Canadian software engineers wanted at these startups

Sarah Villa

Dash CEO placed on ‘indefinite administrative leave’ as the Insight-backed startup carries out financial audit

Sarah Villa

Meta Blue Tick To Cost INR 1,450 For Mobile In India

Sarah Villa

SaaS startup Atica helps hotels to increase revenue, raises funding from Titan Capital, others

Sarah Villa

Pakistani Startups Will Have A Hard Time Raising Funds In 2023

Sarah Villa

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More