GearHead Motors, a Hyderabad-based directo-to-consumer startup, has raised ₹6 crore in the seed round led by Hemin Shah, Director of Collabera, USA and Sudhakar Moparthy, Director of Skillbanc, USA.
The proceeds will be used to expand the startup’s operations pan India to produce high-quality electric bikes, a statement said here on Friday. “Part of the funds will be invested on stabilising the technology of the operating system to create a much more sustainable industry,” it said.
“We are attempting to bridge the gap between the global supply of EVs and the needs of consumers in the country,” Nikhil Gunda, Founder of GearHead Motors, said.
“Aligning with the needs of an Indian customer has been an important part of building this brand. With this, we are creating a sustainable and healthy ecosystem,” he said.