Monday, March 04, 2024
Outlook India
Outlook Business

EV Start-Up Entuple Raises $3 Million

The company will utilise the capital to strengthen its research and development capabilities

EV Start-Up Entuple Raises $3 Million

Outlook Start-Up Desk

POSTED ON January 13, 2023 11:56 AM

Bengaluru-headquartered Electric Vehicle start-up Entuple E-Mobility has bagged $3 million in a pre-Series A funding round led by Blue Ashva Capital and Capital A. 

The company will utilise the capital to strengthen its research and development capabilities to improvise next-generation technologies for customers. Additionally, the investment will help Entuple to serve its OEM ( original equipment) customers with advanced technology offerings, the company said in a statement. 

"We are substantially enhancing our R&D capabilities through talent acquisition, investment in design and simulation tools, and advanced test setups," Rakesh Mishra, the founder and CEO, said in a statement. 

"The growth of the EV market largely depends on access to technology and supply chain for battery cells and powertrains, which account for almost 60% of the cost of the vehicle. Entuple E-Mobility is well positioned to cater to quality and cost requirements of its clientele, ” Satya Bansal, the founder of Blue Ashva Capital, added. 

Founded in 2019, Entuple is known for designing and developing EV charging stations and drivetrains ( electric motors and controllers). Multiple sources reported that the company created 23 integrated motors and controllers. Additionally, it claims to launch a bunch of hub and mid-drive motor powertrains for two and three-wheelers. 

Recently, multiple EV companies were seen to bag investments. Prior to Entuple, ElectricPe raised $5 million in a funding round led by Green Frontier Capital, Blume Ventures and Miecilo Fund. 

  • Related Articles

    Chasing profitability, the start-up has also shut down verticals including infotainment service Ola Play, used-cars platform Ola Cars, and quick-commerce vertical Ola Dash

    Ola Lays Off 200 Employees Across Verticals In Restructuring Exercise: Report

    In December alone, UPI achieved a record of 782.9 crore digital payment transactions with a value of Rs 12.82 lakh crore

    Cabinet Clears Rs 2,600 Crore Scheme To Promote RuPay Debit Card, Low-Value BHIM-UPI Transactions

    The drone loan will help farmers to digitise land record operations for crop production, spraying of fertilisers, chemicals, growth promotors, pesticides, etc., with the help of drones

    UBI Sanctions Loans For Garuda Kisan Drones