kWh Bikes registers 78,000 pre-orders, intends to launch the e-scooter in 2023
The company plans to launch its maiden e-scooter in the first half of 2023; Orders received from dealers are worth more than Rs 1000 crores.
Bengaluru, June 9: Bengaluru-based electric scooters start-up kWh Bikes has registered 78,000 pre-orders in the form of signed Letters of Intent for its upcoming e-scooter from 75 dealers across India. Within five months of registration opening, the company has received orders worth more than Rs 1000 crores for its maiden e-scooter, which is expected to be launched in early 2023.
The company has partnered with existing automotive dealers and prominent B2B players for distribution across nine regions, including Karnataka, Delhi, Maharashtra, Haryana, UP, Bihar, Gujarat, and West Bengal, and Rajasthan.
Speaking on the announcement, Siddharth Janghu, Founder and CEO of kWh Bikes, said, “The pre-bookings that have been received are organically generated without any marketing. We have also received interest from overseas markets, but we are currently focussing on India. As a seed-funded startup, this is a big milestone for us. We are putting together a strong, reliable, safe, high-performance, and feature-packed electric scooter that is being developed, keeping the Indian conditions in perspective. We are aiming to get into production in early 2023. In this regard, several state governments have offered full support. We are proud that we have been able to stretch our seed capital to achieve these outcomes.”
Founded in 2020, kWh Bikes envisions building India’s strongest, safest, and best-performing electric scooters. Some of the salient features of its forthcoming e-scooter are a top speed of over 75 kmph, 4 hours of charging time, high convenience, and reliability. It has an aspirational yet functional design with premium looks and is equipped with high performance, strength, and technology.
The company raised $2 million in a seed round led by LetsVenture, with Better Capital, Cloud Capital, Founder Backer Capital, and Faad Network, among others.
The company is currently looking to hire senior leadership talent in the software and battery domains.