Tuesday, March 21, 2023
Outlook India
Outlook Business

Pune-Based EMotorad Records 100% YoY Revenue

EMotorad is eying to generate Rs 165 crore in revenue at the end of the fiscal year (FY) 2023

Pune-Based EMotorad Records 100% YoY Revenue

Outlook Start-Up Desk

POSTED ON March 07, 2023 4:52 PM

Pune-based Emotorad, which is known for products like electric bicycles and commuter bikes, has witnessed strong growth. It has claimed that the growth is being powered by its advanced tech system and products, which cater to the market demand. 

According to a company statement, Emotorad has witnessed a 100 per cent increase in its year-on-year (YoY) revenue to Rs 140 crore. It is eying to generate Rs 165 crore in revenue at the end of the fiscal year (FY) 2023. Additionally, it is planning for a 400 per cent surge in revenue by catering to the needs for EVs in the tier-two and tier-three cities in the country. 

Emotorad has claimed to sell more than 50,000 units since its inception. Recently it unveiled  X-Factor series, which claims to offer a fun, convenient, and eco-friendly mode of transportation at an affordable price. 

The company has affirmed that it has invested in expanding its distribution channels and forging partnerships with leading online marketplaces and offline dealers nationwide, ensuring easy accessibility of its products and services to customers. 

Talking about the latest development, Kunal Gupta, the chief executive officer (CEO) of EMotorad, said, “We are thrilled to see such incredible growth in our business. Our success is a testament to the hard work and dedication of our team, as well as the growing demand for electric bicycles and e-bike conversion kits."

“As the world prioritises environmentally-friendly transportation options, EMotorad is poised to lead the charge with its cutting-edge products and unwavering dedication to excellence," he added. 

  • Related Articles

    Prior to this, Harappa, another upGrad-owned edtech company laid off 60 employees at the beginning of the year

    Edtech Unicorn upGrad Owned Subsidiary Lays Off 120 Employees

    The 6-week acceleration program will help women entrepreneurs raise capital, forge connections and secure technology access

    AWS, Lightspeed launch AccelerateHer 2023 to nurture women-led start-ups

    Rastogi has over four decades of experience in building payment systems, including IMPS, UPI, and AePS

    EPS Appoints Ram Rastogi As An Additional Director