Electric two-wheeler manufacturer BGauss has raised Rs. 161 crore (approximately $18.6 million) in funding from Bharat Value Fund (BVF). The funding round comprises a mix of primary and secondary capital.

This follows a previous round in April 2022, where BGauss secured Rs. 52 crore (about $6 million) from investors led by Darshan Patel, Founder of Vini Cosmetics.

The newly raised funds will be utilized to expand BGauss’s footprint in India and international markets, enhance capital expenditure, strengthen marketing initiatives, and boost in-house research and development for upcoming product launches.

Founded in 2020 by Hemant Kabra, BGauss integrates AI-enabled technology into its scooters, offering features like fast charging, IoT integration, low maintenance, and high performance.

Headquartered in Pune, the company currently serves around 45,000 customers and aims to grow its dealership network from 120 to 500, with plans to establish over 1,000 touchpoints across the country.

BGauss’s manufacturing capacity, currently at 100,000 units per year, is also set to increase to meet rising demand. The company intends to launch two new products this year. In June 2024, it introduced the RUV 350 scooter, equipped with a 3.5-kilowatt motor, 165 Nm peak torque, and a top speed of 75 km/h.

For the fiscal year ending March 2024, BGauss reported Rs. 177 crore in operational revenue, up from Rs. 110 crore in FY23.

However, its losses nearly doubled to Rs. 49.65 crore. BVF, managed by Madhu Lunawat of Pantomath Capital Management, invests in profitable growth-stage businesses such as Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.