Revamp Moto Raises Over $1M USD in Pre-Seed Funding

Revamp Moto

Revamp Moto, a Nasik, India-based Electric Vehicle manufacturer, raised USD1M in Pre-Seed funding.

The round was led by Veda VC and Venture Catalysts, with participation from IDBI Capital, Deven Bhandari, Ankit Kedia, Sharks – Aman Gupta, Anupam Mittal, Ashneer Grover and Peeyush Bansal. 

The company intends to use the funds to hire people and accelerate its development process and is expected to be in the market with its vehicles by the last quarter of the year 2022.

Founded in January 2021 by Pritesh Mahajan, Jayesh Tope, and Pushkaraj Salunke, Revamp Moto is maker of electric two wheelers which enable India’s small scale businesses to conduct business ‘on the go’, mainly to be used by delivery agents, milkmen, vegetable vendors, street vendors and others. RM Mitra is a two-wheeler built to withstand 200 kgs of payload with a range of 140 km and a top speed of 65 kmph. It comes equipped with functional attachments like a folding table, delivery basket, food box, side rack, saddlebags, Kool Keep (fridge powered by the battery of the vehicle) and so on. RM25 is a low-speed scooter which does not require a license, registration or helmet to be ridden. It also comes with swappable attachment options just like RM MITRA. RM Mitra and RM 25 are built on a Modular Utility Platform that is adaptable and connected thus solving for use cases currently not catered by other EV’s.