By Business India Editorial

Mobility startup BattRE has raised an undisclosed amount of seed fund from a group of investors led by Agility Ventures, it is reported.

“Our electric two-wheelers (E2W) are riding on our strategic differentiators – deep distribution, competitive pricing with advanced features. With our ‘ahead-of-the-curve’ products, we aim to reach every Indian district by 2025. The seed fund will help us plan and execute this goal and enable the next phase of our growth,” said Nishchal Choudhary, Founder and CEO, BattRE. 

The funders include former Tata Motors’ senior executive, Gajendra Chandel.

The company aims to clock Rs1,000 crore revenue by 2025. BattRE was founded in 2017 in Jaipur, Rajasthan by Nischal and Pankaj Sharma to take electric mobility to every Indian city. Currently it has a network of 400 plus dealerships in 21 states and 276 towns, across the country.

“EVs are the future of mobility and are poised to reach $13.8 billion market size by 2027 growing at a 100 per cent CAGR and we are confident that BattRE would dominate the two-wheeler space in that segment with their deep distribution and competitive pricing strategy. We are confident that BattRE will be amongst the top four E2W companies in India by FY23-24,” said Dhianu Das, Founder, Agility Ventures. 

The startup currently offers three products: two low-speed scooters and a high-speed scooter and the company will add two more — a high-speed bike and a delivery scooter. One of the key features differentiating BattRE scooters is the connected feature enabled through Internet of Things (IoT). Such connected scooters can provide insights to the users and enable operational efficiency, the statement said. 

According to a BNP Paribas report, electric vehicle adoption in the two-wheeler segment in India accelerated in the year 2022. As of 2022, E2W penetration in India stood at 1.9 per cent, hinting at huge opportunities for affordable and reliable scooter producers. 

Gajendra Chandel, former president of Tata Motors, Chairman of BattRE said, “Automotive is one of the top five high-growth sectors in India and EVs are leading this amongst the start-up ecosystem. BattRE Electric was born out of a foresightful idea in the 2W space with a need for electrification that brings differentiated and unparalleled service to the customers.”