Raptee.HV Secures Funding from Government's Technology Development Board

Chennai-based electric motorcycle startup Raptee.HV has achieved a significant milestone in its journey, becoming the first EV motorcycle original equipment manufacturer in India to receive funding from the Technology Development Board (TDB). This government body, known for its previous support of Bharat Biotech's Covaxin, has now turned its attention to the burgeoning electric vehicle sector.

Funding Boost for Electric Innovation

The TDB's decision to back Raptee.HV underscores the government's commitment to fostering innovation in the electric vehicle space. While the exact amount of funding has not been disclosed, this support is expected to play a crucial role in the company's growth strategy.

Scaling High-Voltage Technology

Raptee.HV plans to utilize the TDB funding to scale its high-voltage technology, which has been adapted from electric cars. This move positions the company to make significant strides in the performance electric motorcycle market, estimated to be worth $1.00 billion.

Previous Funding and Growth

This isn't the first time Raptee.HV has received government support. In 2021, the company secured a non-dilutive grant of ₹3.25 crore from ARAI-AMTIF, further validating its innovative approach to electric mobility.

Company Overview

Founded in 2019, Raptee.HV has quickly established itself as a pioneer in the electric motorcycle segment:

• Patents: The company has filed 156 patents, highlighting its focus on innovation and intellectual property.
• Production Capacity: Raptee.HV operates a 4.5-acre production facility in Chennai, boasting an annual capacity of 100,000 units.
• Funding Rounds: The startup has successfully raised $5.00 million in a pre-Series A funding round and is in the process of closing a $20.00 million Series A round.

Future Prospects

With the backing of the Technology Development Board and its ongoing Series A funding round, Raptee.HV is well-positioned to capitalize on the growing demand for electric motorcycles in India. The company's focus on high-voltage technology and its substantial production capacity suggest that it's gearing up for significant market expansion.

As the electric vehicle market in India continues to evolve, Raptee.HV's progress will be closely watched by industry observers and potential investors alike. The government's support through the TDB not only provides financial backing but also lends credibility to the startup's innovative approach in the competitive EV landscape.