How ‘charged up’ are #startups on #EV? We recently covered the vast potential and rapidly growing #EV industry in India. Jesse Atlas beautifully covers this by highlighting the funding available to the top #Indian startups in this arena. When one speaks of #EV they consider #OEMs primarily but often ignored are other segments like Mobility as a Service and Battery Tech! While Ola Electric spearheaded by Bhavish Aggarwal, BluSmart founded by Punit K Goyal, and Zypp Electric co-founded by Rashi Agarwal and Akash Gupta have become household names, many other startups in #India have rapidly scaled over the last year. Jesse gives us insights into: 1️⃣ Ather Energy founded in 2013 2️⃣ Bounce Infinity founded in 2014 3️⃣ Smartron founded in 2014 4️⃣ Euler Motors founded in 2018 5️⃣ Log9 Materials founded 2015 6️⃣ Magenta Mobility founded in 2018 7️⃣ Ultraviolette Automotive founded in 2016 8️⃣ LOHUM founded in 2017 9️⃣ Exponent Energy founded in 2020 We will cover some of their stories in the days to come and will keep you updated on the latest in India on EV and other sectors. #Followus for insights on more companies #GoingBigOnIndia! Tarun Mehta Swapnil Jain Mahesh Lingareddy Saurav Kumar Akshay Singhal Kartik Hajela Narayan Subramaniam Niraj Rajmohan Rajat Verma Arun Vinayak Sanjay Byalal Jagannath Nitish Arora Going Big On India
Indian EV startups have raised over $2.8 billion in funding since 2015, primarily led by OEMs. However, recent data indicates a notable shift, with non-OEMs securing over 41% of deals in 2023. The Indian EV sector has raised $850 million through 37 deals since Jan 2023. Investors cite prolonged gestation periods, intensifying competition, and substantial capital requirements for the waning interest in funding EV manufacturers. Industry sub-segments are hot, including EV financing, charging infrastructure, and battery technology; many have better unit economics than 2W manufacturers. While major OEMs like Ola Electric, Ather Energy, and River have raised over $530 million cumulatively in the last year, investments in non-OEM players are gaining traction. Notable funding rounds include EV battery startup Log9 Materials $40 million Series B and Magenta Mobility $22 million Series A. This shift underscores a growing focus on elements within the EV ecosystem beyond vehicle manufacturing. Here is a list of the 12 largest Indian EV start-ups by capital raised according to Inc42 Media. *Note numbers in graphic do not match text due to funding rounds occurring since the original graphic was published in 2023. Source: Inc42 - https://lnkd.in/gFgXhtbW #EV #India #e2w
There are over 150 startups in the electric 2-wheel space alone in India! Many of the defining Indian companies of the 21st century will be cast in the crucible of the green energy transition.
BOV & Alternate Fuel Vehicles Enthusiast
4moUSD 2.8 Billion in Funding Since 2015 speaks volumes of the investor interest, market potential, lateral potent market demand, scope of technology upgradation of ice to battery Operated Automobiles, the energy transition across EV spectrum and the matter of fact that all the invested companies are new INCUMBENT NON LEGACY PLAYERS FROM India 🇮🇳 makes it a matter of great pride. More power to the EV ecosystem...