In a fresh capital infusion, Indian cricket icon Mahendra Singh Dhoni has backed EMotorad, a leading electric cycle manufacturer. The undisclosed investment not only grants Dhoni an equity stake in EMotorad but also sees him take on the role of brand ambassador for the company.
EMotorad’s latest funding follows a successful Series B round last November, where it secured $20 million led by Panthera Growth Partners. Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza, and Sumedh Battewar, the company boasts a robust network of over 350 dealers and ten experience centres across India.
With a focus on local sourcing, EMotorad proudly states that approximately 70% of its components are procured domestically. Their commitment to quality and sustainability has sold over 80,000 electric cycles in the past three years alone. EMotorad aims to expand its global footprint to 100,000 electric cycles by the end of FY25.
In a market brimming with competition from the likes of TrottleMotors, eLIFE, Motovolt, and Yulu, EMotorad stands out as a frontrunner, bolstered by the endorsement of MS Dhoni.
Dhoni’s investment portfolio already includes various ventures such as Garuda Aerospace, Rigi, Tagda Raho, Khatabook, and Cars24. With his backing of EMotorad, Dhoni further cements his presence in the burgeoning electric mobility sector.
