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Accelero Vehicles India Private Ltd, which runs electric vehicle (EV) startup Accelero Vehicles, on Thursday said it has raised seed funding of Rs 1.75 crore (around $233, 000) from Social Alpha and LetsVenture.
Social Alpha and LetsVenture have led a seed investment round of Rs 1.75 crore or $231K in EV startup Accelero Vehicles.
Social Alpha and LetsVenture lead a seed investment round of INR 1.75 Crores in Accelero Vehicles. The company is involved in designing, developing, and manufacturing affordable electric bicycles ‘eBik’ and retrofittable engines ‘eBik Smart’ that convert ordinary bicycles into electric vehicles. The proceeds of the current investment will support the company’s growth through product development, pilot opportunities, enhancing production capacity, expanding to new geographies, and strengthening the sales and marketing team.
Accelero Vehicles India Private Ltd, which runs electric vehicle (EV) startup Accelero Vehicles, on Thursday said it has raised seed funding of Rs 1.75 crore (around $233, 000) from Social Alpha and LetsVenture.
Accelero Vehicles India Private Ltd, which runs electric vehicle (EV) startup Accelero Vehicles, on Thursday said it has raised seed funding of Rs 1.75 crore (around $233, 000) from Social Alpha and LetsVenture.
EV startup Accelero Vehicles has bagged Rs 1.7 crores in a seed funding round led by Social Alpha and LetsVenture.
Funding Rundown: Prime Venture Partners closes 4th fund at $120 mn; Niyo raises $100 mn in Series C; bitsCrunch raises $3.6 mn & Nithin Kamath, Kunal Shah to invest in Kalvi
How this Delhi-based Mobility Startup is Democratizing Electric Mobility for the underserved
Accelero’s mission is simple yet profound: to make motorized mobility accessible and affordable to all. With eBik, they’re not just offering electric bicycles; they’re ushering in a new era of eco-friendly commuting that’s within everyone’s reach. Within the eBik line, representing “Electric Banayenge India Ko,” the company offers three distinct products: electric cycles, conversion kits for thela rickshaws, and conversion kits for passenger rickshaws.
Selco Energy Access Fund Invests in Accelero Vehicles to Expand Motorized Mobility in India
The Selco Energy Access Fund, a subsidiary of SELCO India, has announced a strategic investment in eBik, a product powered by Accelero Vehicles India Private Limited. This investment is aimed at enhancing motorized mobility across India, particularly for individuals earning less than ₹15,000 per month.
FedEx Express supports Social Alpha’s mission to foster greater innovation and inclusion in India’s mobility industry
Selected start-ups will work with allotted Portfolio Managers from the Social Alpha program team. They will be provided support as mentioned, as well as potential seed investment from Social Alpha. Social Alpha and FedEx will conduct mentorship sessions, knowledge sessions, and workshops to enhance the founder’s capability. During the program, the Portfolio Manager will act as an advisor and help the start-ups tap opportunities across new markets.