Social Alpha and LetsVenture have led a seed investment round of Rs 1.75 crore or $231K in EV startup Accelero Vehicles.
The proceeds of the current investment will support the company’s growth through product development, pilot opportunities, enhancing production capacity, expanding to new geographies, and strengthening the sales and marketing team, it said in a press release.
Founded by Anant Jain, Accelero Vehicles is a Delhi-based electric mobility startup that designs and manufactures durable and affordable EV solutions.
Accelero started its research in 2017 and began commercial operations in 2019 with their aim to electrify the two-wheel segment by developing affordable EVs. The startup claims to be the first company to produce roadster electric bicycles with a state-of-the-art manufacturing facility and corporate office located at New Delhi.