Indian eMobility start-up, VAAN Electric Moto, has received an investment of ₹6 crore from Asian Energy Services, an oil and gas service company.
Asian Energy Services was attracted to VAAN Electric considering the vast opportunities in the e-mobility sector. Asian Energy Services has also expressed interest in more investment into VAAN Electric. Jithu Sukumaran Nair, who heads the start-up, said that there are plans to develop an electric charging facility, its services, maintaining e-waste and reproduction. Asian Energy Services is a company listed on the BSE, NSE and Oilmax is the main shareholder.
VAAN which started its operation in 2019 is recognised world-wide as an Indian Life Style E-mobility startup. The company was launched globally at the EICIM Motorcycle Show held at Italy in November 2021. The e-cycles of VAAN will be launched in India this month.
Products
Products of VAAN include e-bike, e-moped, e-scooter and e-bot. The branding of the company is being done by KISKA, an Austria based firm under KTM. Vaan is recognised by Startup India and Kerala Startup Mission. According to Nair, the new investment will help the company to grow as an international brand and it will be used for developing new product, besides expanding to various sectors.
VAAN already has a technical collaboration with the world-renowned bike manufacturer Benelli. Apart from the launch of its e-cycle this month, e-bikes, super bikes for children and dresses will also be introduced. The company focuses on producing environmentally sustainable products along with implementing scientifically developed products. The company also ensures sustainable energy and recycling of products.