EV motorcycle startup Raptee raised $3 M Pre-series A funding from Bluehill Capital
Bluehill Capital, a deep-tech VC firm, led a $3 million pre-Series A round of funding for the EV motorcycle startup Raptee. Among the HNIs from India and the UAE who took part in the round were Eugene Mayne, Lakshmi Narayanan, Ramesh Kannan, Kaynes Technology, Chandu Nair, and Shankara Building Products.
Raptee had previously received a grant from the Automotive Research Association of India (ARAI) for Rs 3.27 crore. Additionally, it received $700K in July 2021 from wealthy donors like Abdul Gaffar from Hyderabad and Sri Kaliswari Metal Powders.
According to a press release from Raptee, the money will be spent on the manufacturing facility, equipment purchases, tooling, and expanding the team.
Raptee, a full stack electric motorcycle manufacturer founded by Dinesh Arjun, intends to go on sale in the first few months of 2019. Over the next three years, the company wants to grow to 100 cities in India and explore a few favorable foreign markets.
Along with an on-board charger, Raptee has also added high-voltage drive train technology, making it compatible with the current CCS2 public charging network.
It competes in the market for making electric motorcycles with companies like Ultraviolette, Oben Electric, Revolt Motors, and Tork Motors, among others.
