EV Startup With Unique Trike Vehicle Segment Seeking Funds

Product / Service

Electric trike: A fully enclosed 2-seater with all weather protection, affordable and sustainable electric vehicle. Wireless chargers: Wireless charging integration to provide hassle-free low maintenance charging setup. Ecosystem products: Under wraps as of now.

Clientele type

We have a B2C and a B2B revenue model. Our clients are daily commuters buying/renting 2 wheelers, delivery personnel, fleet owners and EV manufacturing industries.

Premises

Office in Bengaluru

Asking Price Includes

For an investment of Rs 1.5 crores, the company offers the Equity/Debt options to the Investors as follows –
Providing Equity Shares to Investors (as an option)
The Company proposes to offer 15% of equity shares to the investors upon an investment of Rs 1.5 cr/15 mn.
In this case, the company offers a 15% premium to the prevailing market price of the shares in the event of a buy-back of the equity shares from the current investors after the expiry of the lock-in period of 3-5 years or upon raising higher investment in other series of funding whichever is decided upon.
Providing Equity - Debt financing (as an option)
The company proposes to offer 8% of equity shares to the investors upon an investment of Rs 75 lakhs/7.5 mn in the company.
The remaining amount of Rs 75 lakhs/7.5 mn out of the proposed investment of Rs 1.5 cr/15 mn is to be offered as debt to the company which will be returned at 15% as an annual rate of interest after the expiry of the lock-in period of 3-5 years.
Providing Convertible Instruments as hybrid options – CCPS/CCD
In this case, the company offers a 15% premium to the prevailing market price of the shares in the event of a buy-back of the CCPS from the current investors after the expiry of the lock-in period of 3-5 years or upon raising higher investment in other series of funding whichever is earlier.

Reason

- Manufacturing of 2 Vehicles Prototype - Wireless Chargers - Develop of Battery Management System - Office Space - Team Setup

Other Details

The company has two directors and is led by a qualified instrumentation engineer with experience in IOT and AI. We have an AIME engineer as our design lead and consultant paving the way to the development a sturdy automobile. We have envisioned a company that can solve the issues in the current EVs and its ecosystem bridging the gap between the present reality and the dream of the future that we all share. Our solution is to develop an independent and open ecosystem and make it available to every type of user in the market with a huge range of services making it affordable and sustainable at the same time. We will start with a niche multi utility trike segment with two models of futuristic designs and we will be doing this without diluting our core value of sustainability and affordability The market size that we plan to enter is worth more than 50,000 Crores in India with average sale of 1.5 crore 2 wheelers per year. We plan to earn revenue from the direct sales as well as rentals of EV and from a subscription model of the ecosystem products (microtransactions).