Funding Alert

EV Motorcycle Startup Raptee Secures $3M in Pre-Series A Funding Round Led by Bluehill Capital

• ByStartupStory     |    September 27, 2023

Raptee, an electric motorcycle startup, has successfully raised $3 million in a Pre-Series A funding round. The round was led by the deep-tech VC fund Bluehill Capital, with notable participation from industry leaders such as Eugene Mayne, Founder and CEO of Tristar Global (UAE), Lakshmi Narayanan, Former CEO of Cognizant, Ramesh Kannan, Managing Director of Kaynes Technology, and Chandu Nair, Director of Shankara Building Products.

The funds secured in this round will be primarily allocated towards expanding the manufacturing facility, acquiring machinery and tooling for the upcoming motorcycle launch, and scaling up the team.

Raptee stands out as a full-stack electric motorcycle manufacturer with a strong technological foundation developed indigenously. The company has filed for more than 45 patents to date. It has also introduced high-voltage drive train technology, along with an onboard charger, making its motorcycles compatible with the growing CCS2 public charging network in India and globally. Currently, India boasts over 9,000 installed chargers, comparable to the number of fuel pumps.

This high-voltage technology not only ensures a safer battery pack but also increases battery life, addressing range anxiety among electric vehicle users. In March, Raptee received a grant from ARAI (Automotive Research Association of India), the certifying authority for automobiles in India, for the development of the high-voltage powertrain.

Raptee’s first motorcycle is slated to debut in early 2024, with experience centers in Chennai and Bangalore, expanding to eight more cities by the end of the first year. The company is actively engaged in R&D for its next line of products and plans to expand its team to 150 in line with its business plan.

The Tamil Nadu Government has shown interest in Raptee’s progress and allocated a 36-acre property along with other incentives to support the company’s manufacturing expansion.

Dinesh Arjun, Co-founder and CEO of Raptee, expressed the company’s vision, stating, “We want to launch a motorcycle in a mid-premium segment for consumers who believe that EVs are a true upgrade from ICE vehicles.”

Manu Iyer, CEO & Partner at Bluehill Capital, shared his enthusiasm for Raptee’s mission, emphasizing the significance of building world-class EV technology in India.

Raptee has experienced steady growth in its team size over the last 12 months, with over 50 members onboard. The company’s commitment to progress and vision have led to partnerships with renowned motorcycle component suppliers and industry veterans.

Jayapradeep V, former Head of Business at Royal Enfield, recently joined Raptee as Chief Business Officer.

Raptee’s first factory, spanning 3 acres in Chennai, will primarily house the Research and Development team and will have an annual capacity of 100,000 units. The company has ambitious plans to expand to 100 cities in India and explore conducive international markets over the next three years.

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