Revolt says the investment by RattanIndia Enterprises will enable it to expand its reach in India as well as South Asian markets.
Gurgaon-headquartered Revolt Intellicorp has raised Rs 150 crore from RattanIndia Enterprises, which the company says will enable it to expand its reach in India as well as South Asian markets.
Rattan India Enterprises will hold an equity share in Revolt
Revolts to work on expanding into 35 cities
As part of the deal, Rattan India Enterprises will hold an equity share in Revolt and Rajiv Rattan will join as non-executive chairman of the board of the company. Revolt Intellicorp says its electric motorcycles have clocked over 18 million kilometres on road and processed 329 million data records till date.
Commenting on the investment, Rajiv Rattan, founder and chairman, RattanIndia Group said, “We are very excited to join hands with Revolt Intellicorp and be a part of the electric mobility shift which is undoubtedly poised to be at the forefront of India's green revolution. We are upbeat about the future of the sector as well as the product innovations that have come from the Revolt Motors till date; with this endeavour we hope to be a part of the massification of smart, clean and eco-friendly transportation for commuters across the country.”
The EV maker says it will deploy the fresh capital to expand the distributor and service network across India to 35 cities. In addition, the company will be leveraging AI to upscale and provide an in-house developed, contactless experience for its customers.
Rahul Sharma, founder, Revolt Intellicorp said, “At Revolt Intellicorp, we are determined at providing better and safer e-mobility solutions to our customers. Despite challenges brought by the pandemic, Revolt Motors has emerged as a global powerhouse expanding its footprint to 6 cities across India. Our partnership with RattanIndia Enterprises, complements our vision to offer eco-friendly transportation solutions as well as expand our reach to a larger base of customers across top 35 Indian cities.”