New e-mobility businesses

Karnataka, home to India’s startup capital Bengaluru, is the forerunner in India’s electric vehicle transition and a hub of electric vehicle businesses. The state has more than 45 electric vehicle start-ups at present, and the number is only going to increase in the future. Let’s take a look at some of the prominent electric vehicle start-ups that the state houses.

Ola Electric

Business

:

Electric-scooter manufacturers

USP

:

Disrupted the electric 2-wheeler market by providing economical 2-wheeler alternatives having best possible features

Legal Name

:

Ola Electric Mobility Private Limited

Headquarters

:

Bangalore, Karnataka, India

Business Model

:

B2C

Founding Date

:

26th May 2017

Funding

Total Funding

$307.0 M

Investors
Pawan Munjal Hyundai Motor Company Matrix Partners India Kia Motors
Tata Sons Private Limited SoftBank Tiger Global Management

Ather Energy

Business

:

Electric-scooter manufacturers

USP

:

The Vertical Integrated System of production (various components are manufactured by company’s own self instead of getting it produced from some other vendor)

Legal Name

:

Ola Electric Mobility Private Limited

Headquarters

:

Ather Energy Private Limited

Business Model

:

B2C ,B2B2C

Founding Date

:

Feb 2013

Funding

Total Funding

126 mn

Investors
Sachin Bansal Hero MotoCorp Tiger Global Management

Lithium Urban Technologies

Business

:

Provider of urban electric transportation solutions

USP

:

India's first zero-emission service, with its own fleets of Electric Vehicles (EVs) and associated charging infrastructure

Legal Name

:

Lithium Urban Technologies Pvt. Ltd.

Headquarters

:

Bangalore

Business Modal

:

B2B

Founding Date

:

Oct 2014

Funding

Total Funding

$19.3M

Investors
International Finance Corporation LGT Lightstone Chetan Maini KPIT Technologies others

Bounce

Business

:

bike-sharing startup that offers customers a last-mile commute option

USP

:

drop the scooter at your desired destination thus improving last mile connectivity

Legal Name

:

Wickedride Adventure Services Pvt Ltd

Headquarters

:

Bengaluru,Karnataka, India

Business Modal

:

B2C

Founding Date

:

2014

Funding

Total Funding

$214.2 mn

Investors
Mauritius Investments Navi Technologies B Capital Group Innoven capital
Sequoia Capital India Accel Chiratae Ventures

Numocity

Business

:

Smart and scalable energy delivery ecosystem for Evs

USP

:

Expertise both in hardware and software

Founding Date

:

2018

Investors
ABB Technology Ventures Ideaspring Capital Rebright Partners

Yulu

Business

:

micro-mobility platform (Renting and leasing of electric cycles and electric 2-wheelers)

USP

:

Affordable solution for urban traffic

Legal Name

:

Yulu Bikes Pvt Ltd

Headquarters

:

Bengaluru,Karnataka, India

Business Modal

:

B2C

Founding Date

:

Aug 2017

Funding

Total Funding

$20.0M

Investors
Bajaj Auto Finance Wavemaker Partners 3one4capital Blume Ventures rocketship.vc