Entuple E-Mobility has raised $3 Mn in a Pre-Series A funding round from Blue Ashva Capital and Capital A
The startup will use the fresh funds to strengthen its research and development capabilities to develop next-generation traction motors
It claims to have developed an array of customised products and solutions for spacetech, aerospace, and defence sectors
Electric vehicle powertrain manufacturer Entuple E-Mobility has secured $3 Mn funding in a Pre-Series A funding round from Blue Ashva Capital and Capital A.
Entuple will use the fresh funds to strengthen its research and development capabilities to develop next-generation traction motors. The startup further plans to use the funds to expand its tech offerings.
Founded in 2019, Bengaluru and Thiruvananthapuram-based Entuple designs, develops and manufactures powertrains for the electric two-wheeler, three-wheeler and four-wheeler apps It has also built multiple traction motors such as BLDC, PMSM, SynRM, SRM and induction motors, among others.
Explaining the business model, Entuple shared that it has divided the product development process into four pillars–efficiency, reliability, intelligence, and localisation.
“There exists a huge gap in India’s EV value chain with high reliance on low-reliability imports for critical components. We believe that the growth of the EV market largely depends on access to technology and supply chain for battery cells and powertrains which account for almost 60% of the cost of the vehicle,” said Satya Bansal, founder of Blue Ashva Capital.
Presently, Entuple E-Mobility has a product portfolio of 23 variants including hub motors, mid-drive and heavy-duty motors, and controllers. The startup claims that its designed powertrain and motors have more than 91% energy efficiency.
The startup claims to have developed an array of customised products and solutions for spacetech, aerospace, and defence sectors.
“The current round of funding will significantly boost our capability to develop and deliver next-generation Powertrain technologies to the market. We are substantially enhancing our R&D capabilities through talent acquisition, investment in design and simulation tools, and advanced test set-ups,” Rakesh Mishra, founder and CEO, Entuple E-Mobility said.
In India, it competes with the likes of Sona Comstar, Virya Mobility 5.0 and Varroc, among others.
According to a Mordor Intelligence report, India’s electric vehicle market, which was pegged at $1,434 Bn in 2021, is set to become $15,397 Bn space by 2027. The industry will expand at a CAGR of 47.09% by 2027.