Get All Access for $5/mo

E-cycle Startup Gear Head Motors Raises Pre-seed Funding Led By US-based Angel Investors The previously bootstrapped company will be utilizing the freshly raised funds to expand the company's operations across the country and to stabilize the operating system technology

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Entrepreneur India

The products and services that work towards climate awareness have now been on a rise, more than ever. Sensing this, several startups have come up with products and services dedicated towards this quest. The e-bike market is expected to reach $80.6 billion by 2027. And e-cycle startup Gear Head Motors is one of them.

On Wednesday, the 2020 established venture announced it had successfully raised INR 6 crore in a pre-seed funding round led by Hemin Shah, director, Collabera USA and Sudhankar Moparthy, director, Skillbanc USA.

The Nikhil Gunda and Meher Sai-founded startup used its bootstrapped resources for its initial two years and now will be utilizing the freshly raised funds to expand the company's operations across the country and to stabilize the operating system technology. The aim of Gear Head Motors is to bridge the gap between the global supply of electric bikes or cycles and its Indian customers. Their products are completely made in India and sustainable. So far, the startup has delivered 8000 tricycles and 5000-plus e-bikes.

"Currently there has been a rise of Electric Vehicle penetration in the Indian Market by foreign companies trying to sell their substandard products. Due to these products being imported, they often do not align with Indian conditions, and hence the demand for Electric Vehicles in the market is seen to be on a decline. We came up with the idea to build a product that is affordable and will lead to an increase in homegrown products. With the help of the Make in India initiative, we have been able to accomplish our aim of creating a sustainable future not just for the nation but for the planet. Aligning with the needs of an Indian customer, hence, has been an important part of building this brand. With this, we are creating a sustainable and healthy ecosystem," said Nikhil Gunda, founder, Gear Head Motors.

The increase in demand for such sustainable mobility solutions is due to the constant increase in fuel prices and the public's nascent yet growing interest in general fitness. GearHead Motors has established itself as a key player in the Indian market and has so far launched four e-bike models- L, I, F, and E.

As a part of its upcoming plans, the brand is developing India's first operating system for electric vehicles and other sustainable transportation means and will be integrating facilities such as charging and exchanging electric vehicles.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Franchise

Kick-Start Your Small Business With These Cost Effective Strategies

Starting a small business is an exciting adventure, brimming with both opportunities and challenges. A key to success is effectively managing costs from the outset.

Leadership

Should I Stay or Should I Go? 8 Key Points to Navigate the Founder's Dilemma

Here are eight key signs that help founders determine whether to persevere or let go.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.