The Bharat Value Fund (BVF) has contributed Rs 161 crore ($18.6 million) to the electric two-wheeler manufacturer BGauss. Both primary and secondary capital are included in the round.
Darshan Patel, the founder of Vini Cosmetics Pvt. Ltd., led a group of investors in raising Rs 52 crore (roughly $6 million) for BGaus earlier in April 2022.
The money raised will be utilized to increase its visibility both abroad and in India. Additionally, it intends to use the money for marketing initiatives, capital expenditures, and improving internal research and development (R&D) for future product launches.
BGauss scooters, which were founded in 2020 by Hemant Kabra, combine design and AI-enabled technology to offer convenience, comfort, low maintenance, power, quick charging, and IoT integration.
With plans to grow its dealership network from 120 to 500, the Pune-based startup, which currently claims to serve about 45,000 customers, hopes to create over 1,000 touchpoints throughout India. As demand rises, BGauss’s manufacturing capacity, which is currently 100,000 units annually, will also grow.
This year, BGauss intends to introduce two new products. The RUV 350 scooter, which has a 3.5-kilowatt motor, a maximum torque of 165 Nm, and a top speed of 75 km/h, was unveiled by the company in June 2024.
BGauss reported operating revenue of Rs 177 crore for the fiscal year that ended in March 2024, compared to Rs 110 crore for FY23. Its loss also nearly doubled to Rs 49.65 crore during that time.
Managed by Madhu Lunawat of Pantomath Capital Management, BVF is a Category II Alternative Investment Fund that makes investments in profitable, growth-stage companies such as Aniket Metals, Millennium Babycares, and Haldiram Bhujiawala.
