Pune-based electric cycle startup EMotorad has raised $20 million (Rs 166 crore) in a Series B round led by Panthera Growth Partners. The round also saw participation from xto10x, Alteria Capital, and existing investors Green Frontier Capital.
The start-up aims to deploy fresh funding to develop technologically enhanced smart electric cycles, boost manufacturing capabilities, and deepen offline presence across key regions in domestic and global markets.
The company was founded in 2020 by Rajib Gangopadhyay, Kunal Gupta, Sumedh Battewar, and Aditya Oza.
