Electric two-wheeler manufacturer BGauss has announced raising ₹161 crore ($18.6 million) in a funding round led by Bharat Value Fund (BVF). The investment includes a combination of primary and secondary capital, underscoring BVF’s commitment to supporting growth-stage companies with scalable potential.
The funds will primarily be used to expand BGauss’s presence in India and international markets, scale its manufacturing capacity, and enhance research and development (R&D) capabilities for future product launches. Additionally, a significant portion will be allocated to marketing initiatives and capital expenditures.
Founded in 2020 by Hemant Kabra, BGauss has gained traction with its AI-integrated electric scooters, offering features such as IoT connectivity, fast charging, low maintenance, and ergonomic design. With a current customer base of approximately 45,000, the company plans to grow its dealership network from 120 to 500 and establish over 1,000 touchpoints nationwide.
“Our partnership with BVF marks a pivotal moment in BGauss’s journey. This funding will allow us to enhance our product lineup and cater to the growing demand for electric two-wheelers in India and beyond,” said Hemant Kabra, Founder of BGauss.
In 2024, BGauss introduced the RUV 350 scooter, featuring a 3.5-kilowatt motor, 165 Nm of peak torque, and a top speed of 75 km/h. The company is also gearing up to launch two new models this year to capture additional market share in the rapidly evolving EV sector.
BGauss’s manufacturing facility, which currently has an annual capacity of 100,000 units, is set to scale as demand surges. For the fiscal year ending March 2024, the startup reported ₹177 crore in revenue, a 61% jump from ₹110 crore in FY23. Losses, however, nearly doubled to ₹49.65 crore, reflecting the company’s aggressive investment in scaling operations.
BVF, managed by Madhu Lunawat of Pantomath Capital Management, has a history of backing high-potential businesses, including Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.
The previous funding round in April 2022 saw BGauss raise ₹52 crore ($6 million) from investors led by Darshan Patel, founder of Vini Cosmetics Pvt. Ltd.
This latest investment solidifies BGauss’s position as a rising player in the electric mobility space, poised to drive innovation and adoption in the green energy segment.
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