About the Company
Aryabhatta Motors was founded with a vision to innovate and transform the Indian automotive sector through cutting-edge electric vehicle (EV) solutions. Headquartered in Bangalore, India, the company is dedicated to developing high-performance EVs tailored to the Indian market. It caters to multiple sectors, including personal mobility, logistics, and commercial transportation.
Location: Bangalore, India
Industry: Electric Vehicles (EV)
Clients: B2C and B2B customers, including logistics and fleet operators.
Business Model
Aryabhatta Motors operates through the following key business segments:
a) EV Manufacturing
Description: Designs and manufactures electric two-wheelers and three-wheelers for personal and commercial use.
Key Clients & Markets: Individual consumers, fleet operators, and logistics companies.
b) Battery Technology & Infrastructure
Description: Provides advanced battery technology, swappable battery solutions, and charging infrastructure.
Competitive Advantage: Ensures extended battery life, fast charging, and cost-efficient energy solutions.
c) Revenue Streams
Aryabhatta Motors generates revenue through:
- EV Sales: Selling electric two-wheelers and three-wheelers to individuals and businesses.
- Leasing & Fleet Solutions: Offering EVs for commercial use through leasing models.
- Battery-as-a-Service: Subscription-based battery swapping and charging solutions.
What Problem is the Startup Addressing?
Aryabhatta Motors aims to address multiple challenges in the Indian transportation industry, such as:
- High Fuel Costs: Providing cost-effective EV alternatives to petrol and diesel vehicles.
- Carbon Emissions: Reducing environmental impact through sustainable mobility solutions.
- Lack of Charging Infrastructure: Developing a robust charging and battery-swapping ecosystem.
- Affordability: Offering financing solutions to make EVs accessible to a wider audience.
Key Financial Numbers
- Revenue (Latest): ₹6.8 crore ($820K) as of March 31, 2024.
- Profitability: – $750K (as on Mar 31, 2024).
- Growth Rate: 25% YoY.
- Funding: Raised $2.5 million from Angel Investors and Venture Capital Firms.
- Market Valuation: $55M as of Sep 2024.
About the Founders
Rahul Verma – Co-Founder & CEO
- Education: B.Tech in Mechanical Engineering from IIT Delhi.
- Professional Background: Extensive experience in automotive engineering and product development.
- Role in Company: Leads product innovation, business strategy, and market expansion.
Ananya Iyer – Co-Founder & CFO
- Education & Background: MBA in Finance from IIM Bangalore, with a background in venture capital and corporate finance.
- Contributions: Oversees financial planning, investment strategies, and fundraising initiatives.
