Green Frontier Capital (GFC), an investment company that specialises in climate investing, LetsVenture, and Ivy Growth Associates led a pre-series A round of funding for EMotorad that raised Rs 24 crore.
For explorers, daily commuters, and casual riders, Pune-based EMotorad (EM) wants to offer eco-friendly, cutting-edge e-bikes at a reasonable price. The money will be utilised to scale the business and drive business growth while also bringing on top industry professionals. Additionally, it plans to use cutting-edge technology to alter how people view cycling. Additionally, it plans to add a technological layer to the current e-bike that will provide consumers access to a unique cycling community network with a focus on health and social benefits.