[Funding Alert] BattRE raises Seed Funding from Agility Ventures and Former TATA Motors Executive

BattRE Storie EV

BattRE a Two wheeler mobility startup raises an undisclosed amount of seed funds from a group of investors led by Agility Ventures along with former Tata Motors’ Top Executive, Gajendra Chandel.

BattRE was founded in 2017 in Jaipur, Rajasthan by Nishchal Choudhary and Pankaj Sharma to take electric mobility to every Indian city. Currently, it stands tall with a network of 400 plus dealerships in 21 states and 276 towns, across the country. The company aims to clock a Rs 1000 crore revenue by 2025.

One of the key features differentiating BattRE scooters is the connected feature enabled through the Internet Of Things (IoT). Such connected scooters can provide meaningful insights to the users and enable operational efficiency. BattRE has also pioneered Lithium Ferro-Phosphate (LFP batteries), a key component of the electric mobility sector.

Nishchal Choudhary, Founder and CEO at BattRE, said, “Our electric two-wheelers (E2W) are riding on our strategic differentiators – deep distribution, competitive pricing with advanced features. With our ‘ahead-of-the-curve’ products, we aim to reach every Indian district by 2025. The seed fund will help us plan and execute this goal and enable the next phase of our growth.” 

Gajendra Chandel, former president of Tata Motors and Chairman of BattRE, said, “Automotive is one of the Top 5, high-growth sectors in India and EVs are leading this amongst the Start-Up ecosystem. BattRE Electric was born out of a foresightful idea in the 2W space with the need for electrification that brings differentiated products and unparalleled service to the customers. Its discerning customer experience helped build a widespread network of dealerships across the country, making the products available in every town, serving the customers’ needs on real-time basis.”

Dhianu Das, Founder of Agility Ventures, said, “EVs are the future of mobility and is poised to reach $13.8 billion market size by 2027 growing at a 100% CAGR and we are confident that BattRE would dominate the two-wheeler space in that segment with their deep distribution and competitive pricing strategy. We are confident that BattRE will be amongst the top four E2W companies in India by FY 23-24.”

According to a BNP Paribas report, electric vehicle adoption in the two-wheeler segment in India accelerated in the year 2022. As of 2022, E2W penetration in India stood at 1.9%, hinting at huge opportunities for affordable and reliable scooter producers.

Subscribe to our Newsletter!

Get the latest on the Startup ecosystem delivered to you every day. Made for the Smart and Ambitious.

Total
0
Share