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MS Dhoni-backed EMotorad’s e-cycle gigafactory almost ready

Economic Times

Economic Times · 1y ago

MS Dhoni-backed EMotorad’s e-cycle gigafactory almost ready

Pune-based electric cycle manufacturer EMotorad, backed by cricketer Mahendra Singh Dhoni, is nearing completion of the first phase of its factory in Pune. The 240,000 sq. ft. facility, set to be inaugurated on 15th August, will have the capacity to produce 500,000 e-cycles. Eventually, it is expected to become South Asia's largest e-cycle gigafactory. EMotorad also plans to expand its product range and enter international markets. The company currently holds a 65% share of India's e-cycle market and aims to achieve sales of INR 270 crore in FY25.

Related News

MS Dhoni invests in e-cycle startup EMotorad

Economic Times

Economic Times · 1y ago

MS Dhoni invests in e-cycle startup EMotorad

Cricketer Mahendra Singh Dhoni has made an investment in electric cycles maker EMotorad. This investment will provide Dhoni with equity ownership in the company, in addition to his role as the brand ambassador. EMotorad has captured 65% of the e-cycle market in India and has raised a total of $20 million in funding. Dhoni's association is expected to bring awareness and credibility to the e-biking category. The company plans to expand its sales in India and explore international markets like the US and Europe. They are also working on developing new form factors in the e-cycle category.

MS Dhoni-backed Garuda Aerospace launches Droni consumer drone

Economic Times

Economic Times · 1y ago

MS Dhoni-backed Garuda Aerospace launches Droni consumer drone

Chennai-based company Garuda Aerospace, backed by cricketer MS Dhoni, has launched a consumer drone called "Droni" on Amazon and the social media handles of Dhoni and the Chennai Super Kings cricket team. Priced at Rs 85,000, the drone is designed for convenience and quality, and it strengthens the partnership between Garuda Aerospace and Dhoni. The compact, foldable quadcopter nano drone weighs under 250 grams and has a 48 MP camera with a wide-angle lens. India has over 7 lakh consumer drones, with the majority originating from China.

MS Dhoni backed Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

Economic Times

Economic Times · 2y ago

MS Dhoni backed Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

MS Dhoni backed drone manufacturer Garuda Aerospace said on Tuesday it has secured an order of 400 Agri Kisan Drones from Indian Farmers Fertilizer Cooperative Limited (IFFCO). This takes Garuda Aerospace's order book tally to 10,000 drones for this year within the first three months, it said in a statement.

Dhoni invests in Pune e-cycle maker EMotorad

Thehindubusinessline

Thehindubusinessline · 1y ago

Dhoni invests in Pune e-cycle maker EMotorad

Pune-based e-cycle startup EMotorad has partnered with former Indian cricket captain Mahendra Singh Dhoni. Dhoni has not only invested in the company but will also serve as its brand endorser. EMotorad manufactures e-cycles for adventure seekers, daily commuters, and casual riders. The company exports its products worldwide and customizes them to meet country-specific regulations. With operations in eight countries, EMotorad has over 350 dealers and 10 experience centers in India. In November 2023, the company secured ₹164 crore in funding in a Series B round led by Panthera Growth Partners.

How This E-Bike Startup Raced To INR 100 Cr Revenue By Redefining Micromobility

Inc42 · 1y ago

How This E-Bike Startup Raced To INR 100 Cr Revenue By Redefining Micromobility

Pune-based e-bike startup EMotorad is set to establish the world's largest electric cycle gigafactory in India. With a growing domestic market and increasing demand for e-bike components worldwide, the company plans to address consumer needs through its two major product lines, the X Factor (economical) and the Desire (premium range). EMotorad has a 65-70% market share, and its revenue is primarily generated through B2B partnerships. The startup aims to produce 550K units annually once the gigafactory is operational. Additionally, they are developing an app to enhance the functionality of their e-bikes.

Mahendra Singh Dhoni ventures into the EV space, invests in EMotorad

IndianStartupNews

IndianStartupNews · 1y ago

Mahendra Singh Dhoni ventures into the EV space, invests in EMotorad

Pune-based EV startup EMotorad has partnered with former Indian cricket captain Mahendra Singh Dhoni. Dhoni will be a brand endorser for EMotorad and will also have equity ownership in the company. EMotorad provides e-cycles for adventure seekers, daily commuters, and casual riders. The startup plans to expand globally and invest in cutting-edge technology. It currently holds over 60% of India's e-cycle market share and aims to fill the transportation gap. EMotorad recently raised Rs 164 crore in a Series B funding round led by Panthera Growth Partners to enhance its manufacturing capabilities and global outreach.

EMotorad's Gigafactory To Make 5 Lakh Electric Cycles Annually

Inc42 · 1y ago

EMotorad's Gigafactory To Make 5 Lakh Electric Cycles Annually

EV startup EMotorad has announced plans to build the world's largest electric cycle gigafactory in Pune. The factory will be developed in four phases, with the first phase covering 240,000 square feet. Once completed, the gigafactory will have the capacity to produce up to 500,000 e-cycles annually for both domestic and international markets. The facility will manufacture various components, including batteries, motors, displays, and chargers. EMotorad aims to expand its presence in Europe and the US, with a significant portion of its exports already going to these regions.

MS Dhoni & Deepika Padukone hold stakes in Gensol Engineering, being probed by SEBI

Inshorts · 4m ago

MS Dhoni & Deepika Padukone hold stakes in Gensol Engineering, being probed by SEBI

Ex-India captain MS Dhoni and actress Deepika Padukone hold stakes in Gensol Engineering, currently being probed by market regulator SEBI for diverting funds. Deepika had invested in 2019 in a ₹25.62-crore round, which saw Bajaj Finserv MD Sanjiv Bajaj's participation too, while Dhoni had invested in a ₹200-crore round. Enforcement Directorate's Raipur office also owns stake in Gensol.

Garuda Aerospace secures Series B funding from Venture Catalysts

VCCircle

VCCircle · 4m ago

Garuda Aerospace secures Series B funding from Venture Catalysts

Garuda Aerospace has secured Rs 100 crore in Series B funding from Venture Catalysts, valuing the company at $270 million. Founded in 2015 by Agnishwar Jayaprakash and Rithika Agnishwar, the drone manufacturer aims to scale production and expedite its Chennai-based R&D facility. The company, backed by MS Dhoni, plans to leverage the funds to enhance manufacturing and innovation. Garuda operates India's largest drone fleet, serving clients like TATA Elxsi and Godrej Agrovate.

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

Inc42 · 10m ago

MS Dhoni Tops Up Bet On Drone Startup Garuda Aerospace

- MS Dhoni has invested in Chennai-based drone startup Garuda Aerospace - Dhoni is the brand ambassador for Garuda Aerospace - Garuda Aerospace has a vision to make India a global drone hub by 2030 - The startup secured $22 million in Series A funding recently - Garuda Aerospace aims to sell 25,000 drones in the next 18 months - The company plans to export 10,000 drones to about 100 countries

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