Electric vehicle motorcycle startup Raptee has secured a grant of Rs 3.27 crore from the Automotive Research Association of India (ARAI). The grant was given Advance Mobility Transformation and Innovation Foundation (AMTIF)
Raptee is among the 10 startups and MSMEs to receive this grant from ARAI.
The company plans to utilize the raised funds for the development of the design and the motorcycle’s core high voltage motor controller over the next eighteen months, as it gears up to launch its first motorcycle later this year, Raptee said in a press release.
According to Raptee, it’s currently in the production stage and is likely to launch its premium electric motorcycle later this year. Its bike will have features like throttle mapping, blind-spot detection, and Bluetooth connectivity.
Previously, Raptee had raised $700K in July 2021 from high-net-worth individuals including Abdul Gaffar from Hyderabad, Sri Kaliswari Metal Powders. Recently, the company said that it will scale up to 230 people by this year-end and around 1,000 in phase 2.
ARAI is the testing and certification agency appointed by the Government of India that certifies vehicles and components, ensuring their safety, efficiency, and reliability. Any automobile to be on Indian roads requires official approval from the ARAI.
Start your day, the smart way!
1 Mail | 2 Mins | 3 Stories