EV Startup RACEnergy
EV Startup RACEnergy raised seed funding
from growX ventures
An electric mobility startup, RACEnergy has raised an undisclosed amount as part of its seed round from growX ventures, Prophetic Ventures, and other prominent angels in the energy industry. An Indian accelerator programme for EV specific startups also participated in the round. So let us read about EV Startup RACEnergy.
EV Startup RACEnergy
RACEnergy is founded in 2018 by BITS Pilani alumni Arun Sreyas and Gautham Maheswaran. The RACEnergy is into developing cost-efficient battery swapping stations and swappable batteries to use in electric three-wheelers. The startup builds high-performance powertrains to use in electric vehicles.
The Co-founder Arun Sreyas said that “We wanted to create a holistic solution to the chicken-or-egg problem that Indian EV market faces. We thoroughly studied the market and spoke to over 500 drivers to arrive at our solution. With our strong core team and deep understanding of end-user expectations, we are engineering our products to achieve the required performance while keeping them affordable and convenient to adopt and operate”.
The RACEnergy was found to increase the adoption of electric mobility by using their affordable electric powertrains which perform more better than ICE vehicles which are having several options such as safety, tracking, and security functions.
Ishaan Khosla, the Co-founder of RACEnergy and partner at Huddle said that “With the EV ecosystem in India being in its nascent stages, it’s challenging yet exciting to develop innovative India-specific solutions. We’re pumped to work closely with RACEnergy to make mass EV adoption a reality in the three-wheeler segment.”
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