The spherical additionally noticed participation from HNIs, together with Mr. Eugene Mayne, Founder and CEO of Tristar World (UAE), Ramesh Kannan, Managing Director, Kaynes Expertise & Mr Lakshmi Narayanan, former CEO Cognizant Funds will probably be utilised for augmenting the manufacturing facility, buying equipment, tooling for the upcoming automobile, in addition to bolstering the crew.Raptee to launch two expertise facilities in Chennai and Bangalore, and subsequently broaden its markets to eight cities of India inside the first yr.Raptee is the primary Indian full stack electrical two-wheeler constructed on Excessive Voltage expertise, making it the one EV-2W to leverage the CCS2 public charging community.
Raptee Raises Funds
Premium EV Bike Startup, Raptee has raised $3 Million in a Pre Collection A spherical led by deep-tech VC fund Bluehill Capital.
The all-equity funding spherical noticed participation from business stalwarts together with Mr. Eugene Mayne, Founder and CEO of Tristar World (UAE), Mr. Lakshmi Narayanan, Former CEO Cognizant, Ramesh Kannan, Managing Director, Kaynes Expertise, Mr. Chandu Nair, Director, Shankara Constructing Merchandise and different HNIs from India and the UAE.
The funds will probably be allotted in direction of augmenting the manufacturing facility, buying equipment, tooling for the soon-to-be-launched bike, and scaling up the crew.
Raptee Electrical Bike Expertise
Raptee is a full-stack electrical bike producer with a powerful technological moat that has been developed indigenously. The Firm has filed for 45+ patents up to now. Raptee is the primary Indian two-wheeler EV OEM to boldly introduce high-voltage drive practice expertise, together with an on-board charger, thereby making it suitable with the present CCS2 public charging community, which is rising quick in India and throughout the Globe. At the moment, India has over 9000 chargers put in which is corresponding to the variety of gas pumps.
The high-voltage expertise that could be a important a part of Raptee bikes may even guarantee a lot safer battery pack, with elevated battery life and most significantly will handle vary anxiousness.
Raptee Electrical Bike Launch Date
Earlier in March, Raptee turned the one OEM to obtain a grant from ARAI (Automotive Analysis Affiliation of India), the certifying authority for cars in India, in direction of the design and improvement of the excessive voltage powertrain. The primary bike is predicted to debut in early 2024, with two expertise facilities in Chennai and Bangalore, subsequently increasing to eight extra cities by the tip of the primary yr.
Raptee has initiated R&D for the following line of merchandise and is planning to broaden the crew dimension to 150 consistent with the marketing strategy. Raptee’s progress has additionally been seen by the Tamil Nadu Authorities, which has subsequently allotted a 36-acre property for the corporate together with different incentives for scaling up manufacturing.
Phrases by Administration
Dinesh Arjun, Co-founder and CEO, Raptee, mentioned, “India is the biggest bike market on this planet, with EV adoption on the rise. At Raptee, we wish to launch a motorbike in a mid-premium section for shoppers who consider that EVs are a real improve from ICE autos. We’re extraordinarily lucky to be backed by traders from the manufacturing and transportation industries who perceive long-term worth creation and might add strategic worth for us as we gear up for manufacturing and scale-up. This being our first institutional spherical, we’re additionally proud to be backed by a DeepTech VC, Bluehill Capital. We’ve been refining and testing our autos, and the outcomes are very promising. We’re trying ahead to launching it very quickly.”
Manu Iyer, CEO & Companion, Bluehill Capital, mentioned, “We strongly share the imaginative and prescient of the Raptee crew to construct world-class core EV expertise proper right here in Chennai, India in a centered and cost-effective method. Dinesh and his co-founders have diligently constructed the automobile platform indigenously with mental property on varied elements of the automobile sub-system. Having evaluated over 30 EV OEMs in India and having invested deeply within the EV and clean-tech ecosystem in India, we’re impressed by Raptee’s innovative tech and excited to associate with them on their journey. We consider Raptee’s bikes will change the face of EV 2-Wheelers in India,”
Firm’s Imaginative and prescient
During the last 12 months, Raptee’s crew dimension has grown steadily to over 50. The fast progress and imaginative and prescient displayed by the corporate has resulted within the on-boarding of the a few of the most reputed suppliers for bike parts and senior management expertise from the business, which might guarantee high quality supply and shorter turnaround instances when the manufacturing scales up.
Head of Enterprise of Royal Enfield Joined Raptee
Lately, the previous Head of Enterprise of Royal Enfield, Mr. Jayapradeep V, joined Raptee as Chief Enterprise Officer. Raptee has arrange its first manufacturing unit in Chennai, unfold throughout 3 acres, which is able to home a majority of Raptee’s Analysis and Growth crew. It should have an annual capability of 100,000 items and can function the first manufacturing plant for Raptee for the following 24 months. The R&D centre will home state-of-the artwork improvement and testing services on-site and can assist in future merchandise, whereas the manufacturing plant will home a devoted battery pack meeting line. The proposed funding for this manufacturing unit can be Rs 80 crore. In true Chennai startup trend, it’s noteworthy that Raptee has been frugal but uncompromising in it’s method and has reached this stage (Tooled up Samples) at a fraction of the price of a lot of its friends within the EV business.
Raptee EV bike is predicted to be launched early subsequent yr. The corporate plans to broaden to 100 cities in India and discover few conducive Worldwide markets over the following 3 years.
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