Green Frontier Capital (GFC), an investment firm that specialises in climate investment, LetsVenture, and Ivy Growth Associates recently led a Rs 24 crore Pre-Series A round for EMotorad. The funds will be used to accelerate business growth, hire top industry talent, and scale the company. It also intends to incorporate advanced technology to change how consumers perceive cycling.
Furthermore, it intends to build a layer of technology on top of the existing e-bike that will give users access to a one-of-a-kind cycling community platform focused on health and community benefits.
“At GFC, we are really excited about our investment in EMotorad. EM is building an EV company with a large global potential. What struck us the most about EM is the pace at which they were able to expand the business across geographies in just 2 years of existence, not only this the technology they are building on the top of their bikes is a game changer, it will change the way people cycle,” stated Sandiip Bhammer, the Managing Partner of Green Frontier Capital.
The new funds will be used to accelerate business growth, hire top industry talent, and scale the company. It also intends to incorporate cutting-edge technology to change consumers’ perceptions of cycling.
Speaking on the latest funding round, Kunal, Co-founder and CEO of EMotorad, said “We have always believed in the power of e-bikes to optimize health efficiency. We wish to design products and technology in such a way that it places itself in the user’s journey to becoming healthy. An outdoor Peleton of sorts. By doing so, we not only answer their fitness needs but also provide a sustainable and viable mobility option.”