EV startup Bgauss Auto raises 52cr in series A round led by Darshan Patel
- ByStartupStory | April 28, 2022
RR Global’s electric 2-wheeler brand BGAUSS announced on Wednesday that it has raised Rs 52 crore (about $6.9 million) in a funding round led by Darshan Patel, founder of Vini Cosmetics Pvt. Ltd, with participation from other investors.
“Electric vehicles are the way of the future, and as with any new technology-based product, there will be a learning curve for everyone involved. BGAUSS’s workforce, dealer network, and goods are all impressive. Their next items appear to be very promising and will aid in their rapid growth “Patel stated.
“Over the previous two years, BGAUSS has witnessed remarkable growth and success in our existing products, giving us the confidence to extend our business and product portfolio.” This round of funding arrives just in time for us to launch two new products,” said Hemant Kabra, director of RR Global and founder and managing director of BGAUSS.
BGAUSS, which was founded by Kabra in 2020, expects to utilize the new funds to fund retail expansion in India, production capacity expansion, and the introduction of two new products announced last year, as well as R&D and in-house product development across multiple electrical vehicle components.
BGAUSS says that its scooters have low maintenance, quick charging, and internet-of-things (IoT) capabilities, among other things. The brand’s two flagship electric scooters, the A2 and B8, were launched in 2020 and are priced at Rs 67,999 and Rs 82,999 per unit, respectively.
“D15, our newest product, will be released in early May 2022, followed by a new product later that year. We’re also extending our dealer network across India, actively ramping up operations, and eyeing the export market,” Kabra said.
According to its website, the electric vehicle company has over 13 manufacturing sites, 42 marketing offices with over 4,000 staff, and over 25,000 retail touchpoints.
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