Electric two-wheeler manufacturer BGauss has raised ₹161 crore ($18.6 million) in a funding round led by Bharat Value Fund (BVF). The round comprises a mix of primary and secondary capital and marks a significant step in the Pune-based startup’s growth journey.
In April 2022, BGauss had previously secured ₹52 crore (~$6 million) from a group of investors led by Darshan Patel, the founder of Vini Cosmetics Pvt. Ltd.
The newly raised funds will be utilized to expand BGauss’s domestic and international footprint, scale its manufacturing capabilities, and strengthen its dealership network. Additionally, a portion of the capital will support marketing initiatives and bolster in-house research and development (R&D) to drive new product launches.
Founded in 2020 by Hemant Kabra, BGauss integrates cutting-edge design with AI-enabled technology to deliver electric scooters known for their comfort, low maintenance, power, fast charging, and IoT integration. The startup currently caters to around 45,000 customers and aims to expand its dealership network from 120 to 500, with plans to establish over 1,000 touchpoints across India.
BGauss has a manufacturing capacity of 100,000 units annually, which will scale as demand increases. This year, the company plans to launch two new products. In June 2024, it introduced the RUV 350 scooter, equipped with a 3.5-kilowatt motor, 165 Nm peak torque, and a top speed of 75 km/h.
About Bharat Value Fund (BVF)
BVF, managed by Madhu Lunawat of Pantomath Capital Management, is a Category II Alternative Investment Fund focusing on growth-stage, profitable businesses. Its portfolio includes notable names such as Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.
This funding milestone positions BGauss to enhance its market presence and continue contributing to the growth of India’s electric vehicle ecosystem.
