Indian EV startups are making significant contributions to sustainable mobility, energy infrastructure, commercial transportation, and battery management systems, benefiting both consumers and businesses. These startups are not only helping to reduce carbon emissions but also providing a cost-effective alternative to fossil fuels.
Here is an overview of some Indian startups dedicated to maintaining a healthy and green planet through their innovative technologies and products. This list is presented in alphabetical order and is not a ranking.
1. 3EV Industries
Founded In: 2019
Founders: Peter Hartmut Voelkner, Suman K. Mishra
Funding Raised To Date: $2 Mn
Investors: Credence Family Office
Headquarters: Bengaluru
3EV Industries, founded in collaboration with RUGGED Solar Products Pvt Ltd and ReBatt Limited, provides last-mile hyper-local connectivity across India. The startup manufactures cargo and passenger vehicles and conversion kits for conventional vehicles to electric. They focus on renewable energy and off-grid power systems to optimize last-mile logistics.
Read More: Top 10 startups in chennai
2. Altigreen Propulsion Labs
Founded In: 2013
Founders: Amitabh Saran, Shalendra Gupta
Funding Raised To Date: $40 Mn
Investors: Reliance New Energy Limited, Xponentia Capital, Accurant International, Momentum Venture Capital
Headquarters: Bengaluru
Altigreen offers two-, three-, and four-wheeler EVs for commercial use. The startup has a presence in 60 countries with 26 global patents. It raised INR 300 Cr ($40 Mn) in February 2022 to expand its last-mile transportation solutions.
3. AMO Mobility
Founded In: 2018
Founders: Sushant Kumar
Funding Raised To Date: Bootstrapped
Investors: NA
Headquarters: Noida
AMO Mobility, an MSME-registered and ICAT-certified startup, manufactures and distributes electric two-wheelers like Jaunty, Feisty, and Inspirer through various partnerships. They recently partnered with Trigo Electric to provide advanced electric mobility solutions.
4. Ather Energy
Founded In: 2013
Founders: Tarun Mehta, Swapnil Jain
Funding Raised To Date: $400 Mn+
Investors: Hero Motocorp, Department of Science and Technology, IIT Madras, Binny Bansal, Sachin Bansal, Tiger Global, NIIF Limited
Headquarters: Bengaluru
Ather Energy manufactures two-wheeler electric vehicles, 450X and 450 Plus, and has over 1,000 charging stations across 80 cities in India. In 2023, it raised INR 900 Cr from Hero MotoCorp and GIC, with a plan to expand its charging network.
5. Baaz Bikes
Founded In: 2019
Founders: Karan Singla, Abhijeet Saxena, Shubham Srivastava
Funding Raised To Date: $10.3 Mn
Investors: BIG Capital, Kalaari Capital, AdvantEdge, 9Unicorns, Sumant Sinha
Headquarters: New Delhi
Baaz Bikes provides micro-mobility solutions with electric scooters for gig workers. They offer a subscription model that includes low-speed e-bikes and battery swapping stations. The startup raised $8 Mn in Series A funding in November 2023.
6. Battery Smart
Founded In: 2019
Founders: Pulkit Khurana, Siddharth Sikka
Funding Raised To Date: $65 Mn
Investors: Blume Ventures, Orios Ventures, Green Frontier Capital, TradeCred, Baring Private Equity India, Srinivas Anumolu, K Ganesh, Niraj Singh, Amit Bhasin
Headquarters: New Delhi
Battery Smart operates over 850 Swap Stations for e-rickshaw owners, with 35,000 active vehicles and 80,000 daily swaps. The startup raised $33 Mn in pre-series B funding in July 2023, led by Tiger Global and Blume Ventures.
7. BGauss
Founded In: 2020
Founders: Hemant Kabra
Funding Raised To Date: $7 Mn
Investors: Darshan Patel
Headquarters: Mumbai
BGauss, promoted by RR Global, manufactures EVs BGauss B8 and BGauss A2. The startup raised $7 Mn from Darshan Patel to expand retail and manufacturing capacity and plans to scale operations in Tier 2 and Tier 3 cities.
8. BLive
Founded In: 2018
Founders: Samarth Kholkar, Sandeep Mukherjee
Funding Raised To Date: $3 Mn
Investors: LetsVenture, Mumbai Angels, Ankit Agrawal
Headquarters: Goa
BLive is a multi-brand EV store offering a wide range of EV products and services. They partnered with Zomato to deploy e-scooters for last-mile deliveries in Bengaluru and other southern cities.
9. BluSmart
Founded In: 2019
Founders: Anmol Singh Jaggi, Punit K Goyal
Funding Raised To Date: $110 Mn+
Investors: Stride Ventures, Alteria Capital, BlackSoil, UCIC, BP Ventures, Green Frontier Capital, Mayfield India Fund, 9Unicorns, Suvan Partners, Mumbai Angels, Inflection Point Ventures, Venture Catalysts
Headquarters: Gurugram
BluSmart offers electric ride-hailing services with over 10 Mn completed rides and 4,000 EV chargers. In 2023, they raised $66 Mn to expand their services.
10. Bolt
Founded In: 2017
Founders: Jyotiranjan Harichandan, Mohit Yadav
Funding Raised To Date: $4 Mn
Investors: ITI Growth Opportunities Fund, SUN Mobility, Union Square Ventures, Prime Venture Partners
Headquarters: Bengaluru
BOLT, an AI-based IoT platform, tracks and monitors EV motor controllers and batteries. The startup installed 10,000 EV charging stations in India and aims to deploy 100K charging stations in the next six months.
11. Bounce Infinity
Founded In: 2014
Founders: Anil G, Varun Agni, Vivekananda Halleker
Funding Raised To Date: $214 Mn
Investors: Peak XV, Accel Partners, B Capital Group, Chiratae Ventures
Headquarters: Bengaluru
Bounce, initially a bike rental platform, pivoted to manufacturing e-scooters in 2022. They offer three escooter variants and raised $105 Mn in 2020.
12. Cell Propulsion
Founded In: 2017
Founders: Nakul Kukar, Paras Kaushal, Supratim Naskar
Funding Raised To Date: $4 Mn
Investors: growX ventures, Micelio, Endiya Partners, CIIE.CO, Sangam Ventures
Headquarters: Bengaluru
Cell Propulsion develops high-voltage powertrains and electric commercial vehicles. They raised $2 Mn in 2021 and are focusing on building sustainable mobility solutions and charging infrastructure.
13. Charge Zone
Founded In: 2018
Founders: Kartikey Hariyani, Pavan Bakeri
Funding Raised To Date: $17 Mn
Investors: Venture Catalysts, Mumbai Angels, Keiretsu Forum, Ramakrishnan Family Office
Headquarters: Gujarat
CHARGE+ZONE offers app-based charging stations and raised $10 Mn in 2021 to expand its OEM charging network. The startup aims to raise another $50 Mn in Series A funding in 2022.
14. Chargeup
Founded In: 2019
Founders: Varun Goenka, Ankur Madan
Funding Raised To Date: $2.5 Mn
Investors: Capital A, Anicut Capital, MapmyIndia, Sameer Mehta, Aman Gupta, Tiger Shroff, Shraddha Kapoor
Headquarters: New Delhi
Chargeup provides battery swapping services for three-wheeler EVs. They raised $2.5 Mn in February 2022 and aim to power 1 Mn EVs by 2027 with their AI and ML-based platform.
15. Corrit Electric
Founded In: 2020
Founders: Mayur Misra
Funding Raised To Date: $9 Mn
Investors: SphitiCap
Headquarters: Noida
Corrit Electric manufactures electric bikes like Hover 1.0, Hover 2.0, and Transit for B2B deliveries. They secured $9 Mn in November 2022 to ramp up production and address last-mile connectivity.
16. ElectricPe
Founded In: 2021
Founders: Avinash Sharma, Raghav Rohila
Funding Raised To Date: $8 Mn
Investors: Blume Ventures, Micelio Fund, Anshuman Bapna, Anupam Mittal, Arjun Ravi Sheth, Ashish Goel, Bhuvan Gupta, Green Frontier Capital, NB Ventures, Anchorage Capital Partners, Supermorpheus, Climate Angels
Headquarters: Bengaluru
ElectricPe offers charging infrastructure through its app. They raised $3 Mn in 2021 and $5 Mn in January 2022. They partnered with Hero Electric to set up charging points across India.
17. Electrifi Mobility
Founded In: 2023
Founders: Kunal Mundra, Nikhil Aggarwal
Funding Raised To Date: NA
Investors: NA
Headquarters: Delhi-NCR
Electrifi Mobility offers full-stack EV leasing solutions. They partnered with BluSmart to deploy 1,000 four-wheeler EVs and recently opened Electrifi Labs
Sure! Here are the details for startups number 18, 19, and 20:
18. Emflux Motors
Founded In: 2016
Founders: Ankit Khatry, Varun Mittal, Vinay Raj Somashekar
Funding Raised To Date: $648K
Investors: Meher Roy, Nikhil Arora, Meet Kanodia, Krit Sankalp, Nitish Singh, Risabh Gupta
Headquarters: Bengaluru
Description: Emflux Motors provides sustainable mobility solutions and tech solutions for EVs. The startup sells an electric bike, Emflux One, which boasts a top speed of 200 km/h and a range of 200 km on a single charge. Additionally, Emflux Motors offers various technological components such as battery management systems, motors, motor controllers, charger circuits, EVSE, master controllers, and battery packs.
Funding and Future Plans: Emflux Motors raised $648K in an angel funding round in 2017 with participation from several investors, including Meher Roy and Nikhil Arora. The startup aims to produce 10 million two-wheeler EVs in India by 2027. Emflux Motors focuses on building high-performance electric vehicles and fostering brand loyalty. It also plans to develop an ecosystem of partner OEMs and serve as their tech and component supplier.
19. EMO Energy
Founded In: 2022
Founders: Sheetanshu Tyagi, Rahul Patel
Funding Raised To Date: $1.5 Mn
Investors: Transition VC, Gruhas
Headquarters: Bengaluru
Description: EMO Energy is a deep tech startup focused on addressing safety and charging efficiency challenges in EV adoption in India. Its technology platform, ZEN, offers various applications such as ZEN PAC (swappable battery packs for two- and three-wheelers), ZEN Ctrl. (battery management system and connected software), and ZEN Rig (battery packs for heavy-duty vehicles).
Funding and Future Plans: The startup raised $1.5 million in funding from Transition VC and Gruhas. EMO Energy’s integrated tech stack aims to enhance the performance and safety of EVs, making them more viable for widespread use in India. The startup’s focus on both light and heavy-duty vehicles positions it to have a significant impact on the EV market.
20. Euler Motors
Founded In: 2018
Founders: Saurav Kumar
Funding Raised To Date: $100 Mn
Investors: Athera Venture Partners, QRG Investments, Inventus Capital India, Jetty Ventures, Sujeet Kumar, and several angel investors
Headquarters: New Delhi
Description: Euler Motors offers commercial electric vehicles designed for intra-city logistics. Its flagship product, the HiLoad EV, is an electric three-wheeler cargo vehicle with superior load-carrying capacity and range, specifically designed to meet the needs of urban logistics.
Funding and Future Plans: Euler Motors has raised $100 million to date, with significant investments from Athera Venture Partners, QRG Investments, and Inventus Capital India. The startup is focused on scaling its production and expanding its product line to include more variants of electric commercial vehicles. Euler Motors aims to play a crucial role in transforming urban logistics with its efficient and environmentally friendly EVs.
