Trouve Motor, incubated in FasterCapital's 'Raise Capital' program to raise about $3 million (over Rs 22 crore) in seed funding. This is the vehicle division of IIT Delhi incubated Tadpole Projects, which had announced its plans to launch electric motorcycle and car by 2023 under the Trouve Motor brand.
Through this program, FasterCapital, a leading venture capital firms based in Dubai, will connect Trouve Motor with its network of angel investors. The start-up will get access to experts and aims to raise $25 million by 2022-end.
Arun Sunny, founder, Trouve Motor said, “ We aim to make EV transition seamless for ICE users and aspire to transform how electric bikes are viewed by augmenting user experience via advanced technologies like AI and blockchain. We need strong investor support to make this vision a reality, and this is where FasterCapital will assist us.”
Hesham Zreik, CEO, FasterCapital added, “Our team will work with the team at Trouve on preparing and creating the right pitching materials, and then we will match the project with the right funding sources to help it raise the money needed as soon as possible.”
As per the start-up, it aims to launch its electric hyper-sports superbike with features such as a laser lighting package, LED advanced infotainment display, GPS navigation, real-time vehicle diagnostic, Brembo brakes with dual-channel ABS and adjustable suspension. The motorcycle chassis can support four iteration – hyper sports bike, toned down Indian version, naked street bike and Enduro. The e-motorcycle is scheduled to be launched by 2023.