EMotorad Expands Leadership with Himanshu Ratnoo
Electric bicycle startup EMotorad has welcomed former CARS24 executive Himanshu Ratnoo as a new co-founder. Ratnoo joins the team following over five years at CARS24, where he successfully managed the used car business within India. He stepped down from this position in March 2023.
Established in 2020 by Kunal Gupta, EMotorad focuses on creating electric bicycles and mobility solutions for both domestic and international markets. The company distributes its products across various regions including India, Europe, Japan, Australia, and the UAE.
Focus on Growth and Operations
At EMotorad, Ratnoo is set to direct his efforts towards enhancing business growth, expanding the company’s reach, and fortifying operational processes as EMotorad aims to strengthen its footing in the electric mobility sector.
Product Portfolio and Funding Milestones
In recent years, EMotorad has been steadily broadening its product range and distribution channels. The startup has successfully secured approximately $22.5 million in funding from various investors such as Panthera Growth Partners, Alteria Capital, and Green Frontier Capital. The most recent significant funding round raised $20 million in November 2023, followed by undisclosed investments from former Indian cricketer MS Dhoni, who became the company’s brand ambassador in April 2024.
Competitive Landscape in the E-Cycle Market
EMotorad faces competition from other players in India’s expanding e-cycle market, including firms like Hero Lectro, Nexzu Mobility, and Toutche.