EMotorad gets 24 cr in pre-series A funding

Pune: The electric mobility firm EMotorad, which specialises in electric bikes, has announced that it has raised Rs 24 crore in a pre-series A round of funding from multiple investors, led by Green Frontier Capital (GFC), as well as LetsVenture and Ivy Growth Associates.“GFC is one of the leading cleantech investors in India. Their solution-driven approach and the expertise they bring to the table made them an obvious match. We are grateful to GFC and many other early believers and angels for backing our vision of building in India to serve the world,” said Kunal Gupta, co-founder and CEO of EMotorad. The company recently announced a foray into some countries in the European markets, expanding its international footprint, earlier in the United Arab Emirates, and Japan.EMotorad added that the funding will be used to hire more industry talent and expand and accelerate its business. The company is aiming a revenue of around Rs 165 crores by the end of the ongoing fiscal.