EV motorcycle startup Raptee has raised $3 million in a pre Series A round led by deep-tech VC fund Bluehill Capital. The round saw participation from Eugene Mayne, Lakshmi Narayanan, Ramesh Kannan, Kaynes Technology, Chandu Nair, Shankara Building Products and other HNIs from India and the UAE.
Earlier to this round, Raptee had secured a grant of Rs 3.27 crore from Automotive Research Association of India (ARAI). It also raised $700K in July 2021 from high net worth individuals including Abdul Gaffar from Hyderabad, Sri Kaliswari Metal Powders.
The proceeds will be used towards the manufacturing facility, acquiring machinery, tooling, and to scale up the team, Raptee said in a press release.
Founded by Dinesh Arjun, Raptee is a full stack electric motorcycle manufacturer which is planning to launch early next year. The company aims to expand to 100 cities in India and explore few conducive international markets over the next 3 years.
Raptee has also introduced high-voltage drive train technology, along with an on-board charger, thereby making it compatible with the existing CCS2 public charging network.
It competes with the likes of Ultraviolette, Oben Electric, Revolt Motors, and Tork Motors, among others in manufacturing electric motorcyles space.