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Electric Revolution: The Startups Driving India’s EV Ambition

Electric Revolution: The Startups Driving India’s EV Ambition

Encouraged by funding from the government for large-scale projects, electric mobility innovation is not just coming from traditional automobile giants, but also from India’s EV startups.

India’s transport and mobility landscape has changed so dramatically in the past few years that it’s hard to imagine that this revolution is just the beginning. While the introduction of technology changed how Indians commuted to work and for their daily tasks, the infrastructure boost in terms of highways and ports have transformed shipping and intercity transport.

But that’s just a taste of what all can come in the way of the Indian government’s ambitious plan of achieving electric mobility by 2030. The Indian government has proposed that only electric vehicles would be sold in the country by 2030. A study by NITI Aayog says that this could help save up to 64% of the country’s energy costs for road transport, and cut down on 37% of carbon emissions. Starting with some electric public transit options, the government is looking at an electric transition for three-wheelers by 2023, and most two-wheelers by 2025.

The cornerstone of this plan is the Faster Adoption and Manufacture Of Electric Vehicles scheme also known as FAME. While FAME set out to set standards for EV makers last year, its second phase, launched this year has proposed to invest INR 10,000 Cr ($1.4 Bn) over three years to support 10 Lakh two-wheelers, 5 Lakh three-wheelers, 55K four-wheelers, and 7K buses that operate on lithium-ion batteries or other electric power-trains.

Electric Vehicle Startups Driving India Towards A Sustainable Future

The transition to electric vehicles will not happen overnight and will be similar to how cars with engines replaced horse-drawn carriages. With the push from the government’s side, innovation is not coming primarily from the traditional automobile giants, but from India’s EV startup ecosystem.

The ecosystem is made up of startups that manufacture two-wheelers, as well as startups working in battery tech, vehicle diagnostics and analytics, charging and other such aspects of electric vehicles. India’s sustainability goals are dependent on electric mobility, and we have curated a list of EV startups that are supporting this drive for a greener future.

22Motors

Launched In: 2016

Headquarters: Gurugram

Total Funding: $66 Mn

Key Investors: Farhaan Shabbir, Ishwari Singh, Kymco

The startup focuses on developing advanced connected electric vehicles to change the urban landscape and providing powerful, smart vehicles to the technology-savvy generation. The 22Motors product portfolio is supported with artificial intelligence (AI), lithium-ion storage, Internet of Things (IoT) along with advanced smart features to provide the best machines in the space till date.

Achiredo Technologies

Launched In: 2016

Headquarters: Gurugram

Total Funding: NA

Key Investors: NA

Achiredo is a pay-as-you-earn electric mobility service offering cargo ebikes for B2B2C and B2B operations in last-mile logistics.

Ampere

Launched In: 2008

Headquarters: Tamil Nadu

Total Funding: $1.2 Mn

Key Investors: Ratan Tata, Axon Partners Group, Kris Gopalakrishnan, NuVentures

Ampere is an Indian manufacturer of electric bicycles and light-vehicles with a proprietary engine and charging tech. Greaves Cotton acquired a 67% stake in the company for $10.8 Mn in 2018.

Ather Energy

Launched In: 2013

Headquarters: Bengaluru

Total Funding: $91 Mn

Key Investors: Binny Bansal, HeroMotoCorp Ltd, InnoVen Capital, Sachin Bansal, Tiger Global Management

Ather Energy is an electric vehicle manufacturer which has designed India’s first truly intelligent electric scooters — Ather 450 & Ather 340 — powered by a comprehensive public charging network, Ather Grid, built and designed in India. With 31 charging points in Bengaluru and 10 charging points in Chennai, Ather Grid is the largest fast-charging network for electric vehicles in the country.

Ather Energy founders
Ather Energy founders

AVERA Electric Vehicles

Launched In: 2017

Headquarters: Vijayawada

Total Funding: NA

Key Investors: NA

AVERA New and Renewable Energy is a vertically-integrated manufacturer in pure electric vehicles and energy retailer startup. It builds electric vehicles and controls the entire electric vehicle supply chain from batteries to electric vehicles.

BattRE Electric Mobility

Launched In: 2017

Headquarters: Jaipur

Total Funding: Undisclosed

Key Investors: Sangam Ventures

It is an IoT-powered electric scooter startup with a smartphone app which enables the user to locate the nearest charging stations and predict maintenance requirements. Recently, it launched its first electric scooter priced at INR 63.5K for which it uses lithium-ion batteries which have a battery life of seven years and can be fully charged in four hours. BattRE scooters have a top speed of 25Km per hour and can cover up to 90Km in one charge.

Cell Propulsion

Launched In: 2016

Headquarters: Bengaluru

Total Funding: Undisclosed

Key Investors: Undisclosed

Cell Propulsion is a mobility technology company building connected autonomous electric vehicles.

Cellerite Systems

Launched In: 2017

Headquarters: Hyderabad

Total Funding: Undisclosed

Key Investors: Powered Accelerator

Cellerite Systems is working to promote alternative transportation and encourage adoption of electric vehicles in India. Particularly, it specialises in portable EV charging solutions for electric bikes and three-wheelers.

Cellestial E-mobility

Launched In: 2019

Headquarters: Hyderabad

Total Funding: $200K

Key Investors: Meka Sudhakar Reddy

Hyderabad-based Cellestial E-Mobility is an electric tractor manufacturing startup founded by Siddhartha Durairajan and Syed Mubasheer Ali. The company claims to be in the advanced stage of developing electric tractors with the longest battery life in the market.

eBikeGo

Launched In: 2017

Headquarters: Amritsar

Total Funding: $ 300K

Key Investors: Startup Buddy

It is an electric bike rental company. It procures its electric bikes from the Indian EV manufacturer Okinawa Autotech and generates revenue through tourist and customer bike rentals along with partnerships with logistic delivery providers. eBikeGo is aiming to capture 2% of the Indian electric two-wheeler market share in the near future and plans to build a fleet of 200K bikes in 100 Indian cities.

Emflux Motors

Launched In: 2016

Headquarters: Bengaluru

Total Funding: $650K

Key Investors: Meher Roy, Brian Fabin Crain, Nicky Sujan

Bengaluru-based Emflux Motors is the first Indian company to launch an electric superbike. In addition, Emflux also provides electric mobility solutions to other businesses such as electric vehicle batteries, battery management system and much more. Its first product Emflux One which is currently under development has a maximum speed of 200 Kmph. The superbike is set to go on sale next year.

Emflux team
Emflux team with the electric superbike

Gayam Motor Works

Launched In: 2012

Headquarters: Hyderabad

Total Funding: N/A

Key Investors: N/A

It develops electric bikes and smart autos powered by lithium-ion batteries which can be easily swapped with another fully charged Li-Ion battery.

Gegadyne Energy

Launched In: 2015

Headquarters: Mumbai

Total Funding: Undisclosed

Key Investors: Kishore Ganji, Mumbai Angels

It has developed a quick charging battery technology through a portfolio of international patents. Its battery consists of unique proprietary Nano-material composites and advance battery architectures to enable faster charging of lithium-ion batteries used by electric vehicles.

ION Energy

Launched In: 2016

Headquarters: Mumbai

Total Funding: Undisclosed

Key Investors: Aakrit Vaish, Astarc Ventures, Sushill Jiwarajka, Swapan Rajdev

ION is working towards helping the OEMs design their battery management system (BMS) which forms the “brain” of the batteries. In other words, it provides a technology platform that leverages software analytics and artificial intelligence (AI) to improve performance of EV batteries.

JS Mobileon

Launched In: 2015

Headquarters: New Delhi

Total Funding: $250K

Key Investors: Undisclosed

JS Mobileon designs, develops, manufactures and sells commercial electric vehicles with the latest green mobility tech which offer similar or superior performance as compared to petrol or diesel-powered vehicles.

Ola Electric

Launched In: 2018 (Independent entity in 2019)

Headquarters: Bengaluru

Total Funding: $306 Mn

Key Investors: Ratan Tata, Matrix Partners India, SoftBank, Tiger Global Management

Ola Electric develops solutions to make electric mobility viable at scale, enabling more clean kilometres on Indian roads. It’s the electric mobility arm of Ola, India’s leading ride-hailing startup, and had launched a pilot in Nagpur earlier, which was halted after initial hiccups. However, the company is looking at EVs with renewed interest amid new investments in its business from Hyundai and Kia.

OYE! Rickshaw

Launched In: 2017

Headquarters: Gurugram

Total Funding: N/A

Key Investors: N/A

OYE! Rickshaw offers metro feeder e-rickshaw service connecting homes and offices to metro stations and bus stands for daily commuters’ first and last-mile connectivity needs.

Pure EV

Launched In: 2016

Headquarters: Telangana

Total Funding: Undisclosed

Key Investors: VC Nannapaneni

It is an IIT Hyderabad incubated startup working towards designing, manufacturing and testing of high-performance lithium-ion batteries. It provides EV-related services to organisations such as pharma companies, real estate groups, universities, hospitals, residential communities, NGOs and schools. Recently, the startup has also launched four electric two-wheeler models named ‘EGNITE,’ ‘ETRANCE,’ ‘EPLUTO,’ and ‘ETRON’.

SEDEMAC Mechatronics

Launched In: 2007

Headquarters: Mumbai

Total Funding: $7.5 Mn

Key Investors: Iron Pillar, Nandan Nilekani, Nexus Venture Partners

SEDEMAC builds powertrain control technologies that are deployed through a combination of large volume manufacturing of electronic controllers and long-term relationships with major OEMs/Tier-Is. The company’s immediate interest is in the disruption of the starter motor industry, beginning with 2-wheelers, through its Sensorless Integrated Starter Generator (ISG) technology.

SmartE

Launched In: 2016

Headquarters: Haryana

Total Funding: $20 Mn

Key Investors: Ecotransit Investments International, Mitsui & Co

SmartE is a shared electric mobility service and has served 25 million commuters since its launch. Apart from building an ecosystem of partners in the electric mobility space, SmartE also has set up five very large ‘Park & Charge Hubs’ in Delhi-NCR and is in the process of creating an additional 6 hubs in the next few months. It has strategic tie-ups with organizations like Delhi Metro, Rapid Metro Gurgaon, Haryana State Industrial & Infrastructure Development Corporation, among others.

Three Wheels United

Launched In: 2016

Headquarters: Bengaluru

Total Funding: N/A

Key Investors: Techstars

An NBFC issuing loans for electric light vehicles. It clubs loan collections, asset management, income generation, and behavioural data to create a suite of solutions for its customers. It also grants funded market research, market building, impact assessments in the EV space.

Tork Motorcycles

Launched In: 2010

Headquarters: Mumbai

Total Funding: $4.7 Mn

Key Investors: Ankit Bhati, Bharat Forge, Bhavish Aggarwal

Tork Motors is an electric motorcycle manufacturing startup with proprietary drive train technology. Its proprietary drive train technology TIROS (Tork Intuitive Response Operating System) is the artificial intelligence that drives the machines. The startup holds more than 40 different IPs with respect to their technology, design and trademarks

TresMoto

Launched In: 2015

Headquarters: Bengaluru

Total Funding: $255K

Key Investors: Shell E4

TresMoto is re-imagining the future of mobility. Their first offering is a plug-and-play scooter for dockless rental and micro-delivery service providers. These are purpose-built, connected scooters supported by modern day services and sub-systems. They have unique innovations in their designs and development which lets them price their products at par with petrol.

Ultraviolette Automotive

Launched In: 2016

Headquarters: Bengaluru

Total Funding: Undisclosed

Key Investors: TVS Motor Company

Ultraviolette Automotive is developing India’s first ecosystem of high-performance electric motorcycles and future-ready energy infrastructure. The Ultraviolette F77 was launched in India last month. It will be enabled with ride GPS fleet tracking, remote diagnostics, over-the-air (OTA) or wireless upgrades, regenerative braking, multiple ride modes, ride analytics and bike tracking.

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Team Inc42

Inc42 Staff

Inc42 Media is a digital media startup known for its end-to-end coverage of the Indian Startup Ecosystem. Inc42 has published 15,000+ stories so far and touch the lives of over 10 million people every month. Join us and be the part of the startup revolution.

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