E-cycle startup GearHead has raised Rs 6 crore in a pre-seed funding round led by Hemin Shah and Sudhakar Moparthy.
The proceeds will be utilized to expand the startup’s operations pan India, yield electric bikes to accelerate growth in electric vehicles, and stabilize the technology of their operating system, GearHead said in a press release.
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Founded in 2020 by Nikhil Gunda and Meher Sai, GearHead is an electric cycle brand that produces electric cycles or e-bikes. It assembles the parts imported from countries by designing over 70% of its components themselves.
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GearHead aims to bridge the gap between the global supply of electric vehicles and the needs of Indian customers and build an ecosystem that is set to support sustainable mobility in the future. The company has yet to launch 4 e-bike models – L. I. F. E as an effort to solve urban commuting problems on the go.
The Hyderabad-based startup claims that it has delivered more than 8,000 tricycles and over 5,000 e-bikes since its inception.