New Delhi: Cell Propulsion, a Bengaluru-based mobility and electrical automobile know-how startup, has raised USD 2 million (debt + fairness funding) in a progress spherical from the present buyers.Endiya Companions, growX Ventures, Huddle Accelerator and Micelio have been the important thing buyers on this spherical, the startup mentioned in a launch.
Based by Nakul Kukar, Paras Kaushal and Supratim Naskar, Cell Propulsion builds and deploys electrical industrial automobiles (eLCVs and eHCVs) as a part of its built-in answer. In September 2020, the corporate had raised about USD 1 million as a part of its Pre-series A spherical.
“We’re delighted to have continued curiosity and help from our key buyers. With the funds raised final yr, as a part of our Pre-Collection A spherical, we efficiently accomplished the certification of battery packs and eLCVs in addition to commissioning pilot meeting strains for the battery packs and the eLCVs. The present spherical has been performed to fulfill the rising demand for our options, increase our operations, and efficiently execute our go-to-market technique,” Cell Propulsion co-founder and CEO Nakul Kukar mentioned.
They plan to proceed their work in direction of remodeling the industrial automobiles section to grow to be related, electrical and sensible, he mentioned.
The funding comes as the corporate has initiated deploying eLCVs with numerous logistics corporations for the final and middle-mile motion of cargo whereas organising its first charging station and repair centre in Bengaluru.
The fund may also be used for additional growth of the built-in eco-system to speed up the adoption of eCVs.
Along with this, the corporate may also allow the upgradation of eBus powertrain know-how for eTrucks and eHCVs. This know-how was developed as a part of the undertaking with BMTC, making them one of many solely startups within the nation which are growing excessive energy, excessive payload electrical CVs and related options, the discharge added.
