Orxa Energies raises undisclosed amount in its Pre-series A funding round

• ByStartupStory     |    August 9, 2022

Bangalore–based Orxa Energies, a maker of electric motorcycles, has closed an undisclosed amount of Pre-Series A funding from SAR Group’s electric mobility arm Lectrix E-Vehicles.

Along with the fundraising agreement, Orxa Energies has entered into a strategic partnership with Lectrix E-Vehicles.

The collaboration is expected to accelerate the manufacturing preparedness of Orxa Energies’ flagship all-electric high-performance motorcycle, the Mantis, for commercial production. Orxa Energies plans to bring multiple performance EV products to market for its customers and set up its new manufacturing unit on the outskirts of Bengaluru in the next three to four months, thanks to  the new funding from the SAR group, one of India’s leading industry players in energy storage and clean energy technologies. 

 The company had previously raised three rounds of external funding. It makes the claim of having generated the revenue since 2018 and that its B2B business has grown 6X year on year (YoY).

Orxa Energies competes in the two-wheeler motorcycle market with brands such as Revolt, Odysse, and international premium brand Ducati, among others. Its competitors in the broader two-wheeler EV segment include Ather Energy, Ola, and Okinawa Autotech.

The managing director and CEO, Lectrix EV K Vijaya Kumar,said “Over the last few years, Orxa has created a well-architected and full-stack solution for EVs and this is closely aligned with our vision at Lectrix EV,” “We look forward to working with Orxa on multiple early-stage EV technologies.”

In addition to focusing on products, the startup is expanding its team. According to the startup, it plans to nearly fivefold its team size in the coming months. According to cofounder Ravi, the startup’s focus will be on strengthening its engineering muscle and developing similar teams in production, quality control, supply chain, and marketing.

“We have added 25% to our team in the last few months, and by October 2022, we will have doubled our team size,” she added.

About Orxa Energies

Founded in 2017 by Sabnis and Ranjita Ravi, Orxa Energies is a high-performance electric vehicle and energy systems startup. Orxa Energies wants to rapidly electrify all transport. Orxa does this through their fully-electric performance vehicles and their performance battery packs. Orxa is capital-efficient, works through first principles and builds “design with function” in all their products.

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