BGauss raises Rs 52 crore in Series A funding, plans 2 new e-two-wheelers
The Mumbai-based company says the funds will be utilised for driving growth.
BGauss, an electric two-wheeler company promoted by wiring major RR Global has raised Rs 52 crore in Series A funding, which was led by Darshan Patel, founder, Vini Cosmetics.
The Mumbai-based company says the funds will be utilised for driving growth including retail expansion in India, expanding manufacturing capacity, launch of two new products, R&D and in-house product development across various electrical vehicle components.
It maybe recollected that BGauss had launched its low-speed and high speed e-scooters in 2020. The company claims that all the components including the motor, battery, vehicle control unit have been developed in-house. Hemant Kabra, director, RR Global and founder and MD, BGauss Auto said, “BGauss has seen tremendous growth and success from our existing products, in the last two years, which gives us confidence to expand our business and product offerings. This round of funding comes at the right time for us as we are all set to launch two new products. Our first Product - D15 will be launched in May 2022 and another product later during this year. We are also strategically expanding our dealer network across India, actively scaling up operations and looking to target the export market.”
Darshan Patel, said “EVs are the future and like any new technology-based products, there will be a learning curve for all players. The team at BGauss, led by Hemant, their dealer network and products are impressive. Their upcoming products look very promising and will help them grow faster.”
Rajesh Doshi, founder and MD, Steer Advisors, Investment bankers for the deal said, “BGauss has a long-term orientation towards all aspects of the business ranging from product development, vendor ecosystem or its dealership network and this thought process is different as compared to many other players we have come across in the industry.”
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