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.
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
Total Funding
$307.0 M
Investors | ||||||
---|---|---|---|---|---|---|
Pawan Munjal | Hyundai Motor Company | Matrix Partners India | Kia Motors | |||
Tata Sons Private Limited | SoftBank | Tiger Global Management |
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
Total Funding
126 mn
Investors | ||
---|---|---|
Sachin Bansal | Hero MotoCorp | Tiger Global Management |
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
Total Funding
$19.3M
Investors | ||||
---|---|---|---|---|
International Finance Corporation | LGT Lightstone | Chetan Maini | KPIT Technologies | others |
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
Total Funding
$214.2 mn
Investors | |||
---|---|---|---|
Mauritius Investments | Navi Technologies | B Capital Group | Innoven capital |
Sequoia Capital India | Accel | Chiratae Ventures |
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
Total Funding
$20.0M
Investors | ||||
---|---|---|---|---|
Bajaj Auto Finance | Wavemaker Partners | 3one4capital | Blume Ventures | rocketship.vc |