Electrical equipment maker RR Global-owned electric 2-wheeler brand BGAUSS, Wednesday said it has raised Rs 52 crore (around $6.9 million) in a funding round led by Darshan Patel, founder of Vini Cosmetics Pvt. Ltd, along with participation from other investors.
"EVs are the future and like any new technology-based products, there will be a learning curve for all players. The team at BGAUSS, their dealer network and products are impressive. Their upcoming products look very promising and will help them grow faster," said Patel.
“BGAUSS has seen tremendous growth and success in our existing products over the last two years, which gives us the confidence to expand our business and product offerings. This round of funding comes at the right time for us as we are all set to launch two new products," said Hemant Kabra, director, RR Global and founder and managing director, BGAUSS.
Founded by Kabra in 2020, BGAUSS said it plans to deploy the fresh capital for the company’s growth plans including retail expansion in India, manufacturing capacity expansion and the launch of two new products it announced last year, R&D and in-house product development across various electrical vehicle components.
BGAUSS claims to offer low maintenance, quick charging, and internet-of-things (IoT) among other features in its scooters. Launched in 2020, the brand has two flagship electric scooters – the A2 and B8 - running on lithium ion and priced at Rs 67,999 and Rs 82,999/unit respectively
Our newest product, D15, will be launched in early May 2022 followed by another exciting product later this year. We are also strategically expanding our dealer network pan-India, actively scaling up operations and looking to target the export market," Kabra said.
The electric vehicle company currently has over 13 manufacturing facilities, 42 marketing offices with over 4,000 employees and more than 25,000 retail touch points, according to its website.