Let’s Venture leads $2 Mn seed round in kWh Bikes

kWh Bikes, a multi-utility e-scooters startup, has raised $2 million in its seed round led by Let’s Venture.

Better Capital and Cloud Capital along with a clutch of investors such as Renu Satti, Vijay Shekhar Sharma, Rajiv Nazareth, Paresh Sukthankar, Dipak Gupta, Matt Van Horn, Haresh Chawla, Ravish Naresh, Rohit Chanana, Hitesh Oberoi and T Gautham Pai amongst others have also joined the round.

The funding proceeds will be used to take its prototype to production and to expand its R&D across various EV components such as battery, BMS, VCU, and motor, said kWh in a press release.

Founded by Siddharth Janghu, Kartik Gupta and Anupriya, kWh is building electric scooters that have software capable of creating efficient and optimised power trains besides developing software-driven robust battery packs to make its vehicles deliver high performance in extreme conditions.

The startup currently caters to the Indian B2B EV market and soon plans to be available for retail users as well.

Last month, three of the early-stage startups, BluSmart, REVOS, and EV Plugs in the EV segment raised funding.