Pune-based electric bicycle and bike manufacturer EMotorad announced on November 27, 2023, that it had secured $20 million (Rs 164 crore) in its Series B funding round in a mix of debt and equity led by Panthera Growth Partners.
EMotorad is an electric bicycle maker with a vision, To make cycling the most preferred mode of urban transportation in India and is on a mission, To provide affordable, sustainable, and enjoyable electric bicycles for everyone
The funding will be used to: Expand manufacturing capacity, Develop new products, Explore new markets.
EMotorad's plans for the future: Is to become the leading electric bicycle manufacturer in India, Expand into international markets, Develop innovative electric bicycle technologies
