[Funding alert] E-cycle platform GearHead raises Rs 6 Cr in pre-seed funding
Summary
Hyderabad-based E-cycle startup GearHead has raised Rs 6 crore in a pre-seed funding round led by Hemin Shah and Sudhakar Moparthi.According to the company, the funds are expected to be used to expand operations across India and strengthen the companys operating system, which is the countrys first operating system for electric vehicles.aims to bridge the gap between the global supply of electric vehicles and the needs of Indian customers and build an ecosystem to support sustainable mobility in the future, as per reported by Entrackr.Founded in 2020 by Nikhil Gunda and Mehar Sai, GearHead aims to make electric vehicles mainstream in India. The company claims to have delivered over 8,000 tricycles and over 5,000 e-bikes since its inception. It self-designs more than 70% of its components and assembles imported parts from countries.GearHead is an electric bicycle brand that produces electric bicycles or e-bikes. GearHead Motors has introduced its electric cycle and tricycle for just Rs 24,000. It is Indias first and foremost company trying to save the world from the shock of biofuels.