Founded in March 2020, the brains behind kWh Bikes are electrical & electronics engineers: second-time entrepreneur Siddharth Janghu, whose previous venture was backed by Tiger Global, and Kartik Gupta, who managed software projects for Tesla and BMW and moved from Silicon Valley back to India. Anupriya Kumar, ex-Big 4 economist and advisor, ideated the inception of kWh Bikes given government incentives, green credentials, amongst other benefits.
kWh Bikes is building the world’s strongest, smartest, safest, and best performing multi-utility electric scooters. The team has successfully built a working prototype from scratch and is now engineering their production-ready scooter, which will be completely designed and developed in India with an in-house powertrain, something that most Indian EV OEMs are not doing.
kWh Bikes has recently raised $2 million in a seed round led by Let’s Venture, with Better Capital, Cloud Capital, Backer Capital and Faad Network also participating. With this, the startup is planning to take its prototype to production and expand R&D across various EV components like battery, BMS, VCU, and motor.
The funding is amongst the largest seed round in the Indian EV space so far with participation from Renu Satti (ex-CEO, Paytm Payments Bank), Vijay Shekhar Sharma (CEO, Paytm), Rajiv Nazareth (ALF Engineering), Paresh Sukthankar (ex-Deputy MD, HDFC), Dipak Gupta (MD, Kotak), Matt Van Horn (Co-founder, Lyft), Haresh Chawla (ex-Group CEO, Network 18), Ravish Naresh (CEO, Khatabook), Rohit Chanana (Sarcha Advisors), Hitesh Oberoi (CEO, InfoEdge), T Gautham Pai (MD, Manipal Media), Gaurav Munjal (CEO, Unacademy), Sumit Jasoria (CEO, Meero), Ramakant Sharma (COO, Livspace) and Kirill Kozhevnikov (Partner, RTP Global), amongst others.