Raptee announced that the funds will enhance the manufacturing plant, purchase machinery, secure tooling for the upcoming motorcycle launch, and expand the team.
Raptee, an electric motorcycle startup, recently secured USD 3 million in a Pre Series A round by Bluehill Capital, a deep-tech VC fund. This all-equity round saw prominent figures in the industry contribute, including Eugene Mayne of Tristar Global, Lakshmi Narayanan (ex-CEO of Cognizant), and several others from both India and the UAE.
The capital will enhance Raptee’s manufacturing capabilities, acquire machinery for their imminent motorcycle release, and facilitate team expansion. A standout in the electric motorcycle domain, Raptee has innovated with 45+ patents, introducing India’s first high-voltage drive train technology compatible with the expanding CCS2 public charging network. This high-voltage tech promises enhanced battery life, safety and mitigates range concerns.
In March, the Automotive Research Association of India recognized Raptee’s pioneering efforts, awarding them a grant for their high-voltage powertrain development. Raptee anticipates launching its first motorcycle in early 2024, with initial experience centres in Chennai and Bangalore, and expansion to other cities soon after.
The company’s growth trajectory also involves research for new products and plans to bolster its team size to 150. Acknowledging their success, the Tamil Nadu Government has allocated a 36-acre property for Raptee and offered other incentives.
Dinesh Arjun, Raptee’s Co-founder and CEO, emphasizes India’s massive motorcycle market and the increasing shift towards EVs. Raptee aims to cater to consumers seeking a superior alternative to ICE vehicles. He expressed gratitude for the support from knowledgeable investors who recognize the long-term potential.
Manu Iyer of Bluehill Capital commended Raptee’s technological growth and envisions Raptee revolutionizing the EV 2-wheeler scene in India.
In the past year, Raptee’s team has expanded to over 50 members, partnering with top suppliers for motorcycle components. Jayapradeep V, ex-Business Head of Royal Enfield, has joined Raptee as Chief Business Officer. The company’s inaugural factory in Chennai will serve as the primary production hub and R&D centre with an annual capacity of 100,000 units.
Raptee’s upcoming electric motorcycle is slated for a launch next year, with ambitious plans to reach 100 Indian cities and select international markets in the subsequent three years.