EV scooter startup Starya Mobility has bagged $2 Mn from ah! Ventures and others
EV scooter startup Starya Mobility has bagged $2 Mn from ah! Ventures and Exedy Clutch India. Founded in 2018 by A B Sachin Anchan, Bharath Rao K S, Gowrav Lakshmegowda, Mallikarjuna Nagesh, and Ravikumar Jagannath, Starya Mobility makes Electric Power Trains and retrofits of gearless IC engine scooters. The startup has announced that it has signed a partnership with Exedy to explore new ideas and innovation, creating mutual benefits along the way. Exedy manufactures clutch plates of three and four wheeler vehicles and assembles products for some of its global clients.
As a result of the strategic partnership, the customers of the startups will soon be able to avail E-CVT installed on upgraded Electric Propulsion Kit (EPK), which will help EV users climb gradients of 21 degrees and upwards depending on speed and load. Commenting on the partnership, Starya’s CEO Ravi Kumar said, “By leveraging each other’s strengths both strategic as well as technical we hope to aid faster adoption of EVs not just nationally, but internationally as well.”
The Indian EV industry has been witnessing growth momentum in several aspects. While the EV makers are being scrutinised for misappropriation of the FAME-II policy, the government plans to cut per vehicle subsidy for two-wheeler EVs under the scheme. Further, the government is also planning to increase the allocation for two-wheeler EVs under the INR 10,000 Cr scheme to INR 3,500 Cr from INR 2,000 Cr.
Though the government is pushing to increase the number of EVs on roads, the two-wheeler EV registration dropped around 23% month-on-month (MoM) in April due to the prevailing uncertainty around the FAME-II scheme. A total of 66,410 two-wheeler EVs were registered in April as against 86,187 units in March. However, the total number of EV registration jumped by 57% to 1,04,771 units in May from 86,259 in April. The list continued to see Ola Electric’s dominance followed by TVS Motor and Ather Energy.
Owing to this, the charging station startups have also started seeing growth. Last month, EV charging startup Kazam bagged $3.6 Mn in a round led by Avaana Climate Fund. In March, another startup in the same sector, CHARGE+ZONE bagged a funding of $54 Mn in its Series A1 funding round to roll out 286 charging stations.
As a result of the strategic partnership, the customers of the startups will soon be able to avail E-CVT installed on upgraded Electric Propulsion Kit (EPK), which will help EV users climb gradients of 21 degrees and upwards depending on speed and load. Commenting on the partnership, Starya’s CEO Ravi Kumar said, “By leveraging each other’s strengths both strategic as well as technical we hope to aid faster adoption of EVs not just nationally, but internationally as well.”
The Indian EV industry has been witnessing growth momentum in several aspects. While the EV makers are being scrutinised for misappropriation of the FAME-II policy, the government plans to cut per vehicle subsidy for two-wheeler EVs under the scheme. Further, the government is also planning to increase the allocation for two-wheeler EVs under the INR 10,000 Cr scheme to INR 3,500 Cr from INR 2,000 Cr.
Though the government is pushing to increase the number of EVs on roads, the two-wheeler EV registration dropped around 23% month-on-month (MoM) in April due to the prevailing uncertainty around the FAME-II scheme. A total of 66,410 two-wheeler EVs were registered in April as against 86,187 units in March. However, the total number of EV registration jumped by 57% to 1,04,771 units in May from 86,259 in April. The list continued to see Ola Electric’s dominance followed by TVS Motor and Ather Energy.
Owing to this, the charging station startups have also started seeing growth. Last month, EV charging startup Kazam bagged $3.6 Mn in a round led by Avaana Climate Fund. In March, another startup in the same sector, CHARGE+ZONE bagged a funding of $54 Mn in its Series A1 funding round to roll out 286 charging stations.
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