Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad

Dhoni goes electric: Former team India captain invests in affordable e-bike start-up EMotorad
MS Dhoni (PTI Photo)
Hitting a hattrick of 6’s to dazzle the crowd hasn’t been the only cool thing MS Dhoni has been up to of late. The Indian cricketing legend continues to make waves off the pitch in many ways, one of which involves investing in interesting and impactful start-up projects.

His latest venture involves an undisclosed investment in electric cycle manufacturer EMotorad. In addition to his financial backing, Dhoni is set to serve as the brand endorser for the company, further solidifying his role in shaping its future direction.

Expressing his excitement for this venture, Dhoni commented: “The future is in our hands. We are in an era where innovation plays a huge role in shaping sustainable solutions, and I’m a fan of new-age companies that build these. EMotorad stands at the forefront of shaping the future of mobility, and I am thrilled to be a part of this journey!”

Kunal Gupta, founder and chief executive of EMotorad, expressed confidence that MS Dhoni's association with the brand will significantly boost awareness and trust in the e-biking sector. He told ET: “There is no one better and more reliable than Dhoni who resonates with what our brand stands for, an avid biker himself.”

This Pune-based startup now joins a growing list of startups that are part of Dhoni's diverse portfolio, which includes ventures spanning various sectors such as fitness, technology, automotive and digital solutions. As per The Economic Times, notable among his investments are Bengaluru-based fitness startup Tagda Raho, digital lending platform Khatabook, and Gurugram-based used car retailer Cars24.

Founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza and Sumedh Battewar, EMotorad has rapidly gained traction in the Indian e-cycle market, capturing a 65% share. With a focus on cutting-edge technology and strategic partnerships, the company aims to revolutionise transportation by offering high-quality and value-driven solutions.

Back in November 2023, EMotorad demonstrated its growth potential by securing substantial funding worth Rs 164 crore in a Series B round led by Panthera Growth Partners. It has raised a total of $20 million in equity thus far.

The company boasts a network of more than 350 dealers nationwide, along with over 10 experience centres. Despite its strong foundation in India, its reach spans across eight countries, demonstrating its global presence and influence.

Offline dominance aside, EMotorad also leverages online platforms to reach a wider audience, including e-commerce giants like Amazon and Flipkart.

In the fiscal year ending March 2024, EMotorad reported sales of Rs 140 crore, a notable increase from Rs 115 crore the previous year. Looking ahead to FY25, the company targets sales of Rs 270 crore, with approximately Rs 130 crore stemming from domestic markets and the remainder anticipated from regions like the US and Europe.

With plans underway for a new factory and the development of innovative e-cycle designs, EMotorad is poised for further expansion. By diversifying its product range, expanding its market reach, and now partnering with one of the most beloved sporting figures in the country, the company is fully committed to solidifying its position as a leader in the evolving mobility landscape.

(With inputs from The Economic Times)