Blaer Motors Raises Funding Rs 2.61 Cr From The Chennai Angels
- ByStartupStory | June 7, 2021
Mobility startup, Blaer Motors raises funding Rs 2.61 Cr from angel investment group,The Chennai Angels (TCA) as announced by the investment group on Monday. Blaer Motors raises funding mainly for infrastructure development, strengthening of its R&D team and technology development. Blaer Motors builds and develops technological solutions in the transportation and mobility space. The company focuses on developing clean, smart and efficient solutions that are cost efficient to meet the needs of the consumer.
Abinesh Ekambaram, Co-founder, Blaer Motors, said regarding Blaer Motors raises funding, “This is our first round of external investment. We are thankful to our investors for believing in Blaer and we value their expertise in the automotive industry, which will help us to further our products and business strategies and strengthen our position in the market.”
“Blaer Motors came across as an innovation driven and technologically robust company working on developing hybrid technology for two and three-wheeler vehicles. This hybrid technology will help in both enhanced performance and fuel efficiency of the vehicles. India being the world’s largest two and three wheeler market, this innovation will have a huge impact on the domestic market,” The Chennai Angels’ investment director, Vasantha Kumar, Head Business Development, ABAN Infrastructure Ltd,who led this round of fundraise said in regard to Blaer Motors raises funding.
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