Highlights
BGauss Secures Rs 161 Crore in Funding
Electric two-wheeler manufacturer BGauss has successfully secured Rs 161 crore (approximately $18.6 million) in funding from Bharat Value Fund (BVF). This funding round comprises both primary and secondary capital.
Previous Funding Round
Earlier, in April 2022, BGauss had raised Rs 52 crore (about $6 million) from a consortium of investors led by Darshan Patel, the founder of Vini Cosmetics Pvt. Ltd..
Utilisation of Funds
The new funds will be directed towards:
- Expanding its presence across India and international markets.
- Capital expenditures for infrastructure development.
- Marketing initiatives to boost brand visibility.
- Enhancing in-house research and development (R&D) for upcoming product launches.
About BGauss
Founded in 2020 by Hemant Kabra, BGauss scooters blend innovative design with AI-enabled technology. This integration provides users with:
- Exceptional comfort.
- Low maintenance requirements.
- Powerful performance.
- Fast charging capabilities.
- IoT integration for added convenience.
Customer Base and Expansion Plans
The Pune-based startup currently serves approximately 45,000 customers and aims to expand its dealership network significantly, increasing from 120 to 500 locations. Their goal is to establish over 1,000 touchpoints throughout India. Additionally, BGauss’s manufacturing capacity, currently at 100,000 units per year, will be scaled up to meet growing demand.
Upcoming Product Launches
BGauss is set to introduce two new products this year. Notably, in June 2024, the company launched the RUV 350 scooter, which features:
- A 3.5-kilowatt motor.
- 165 Nm peak torque.
- A top speed of 75 km/h.
Financial Performance
For the fiscal year ending in March 2024, BGauss reported a revenue of Rs 177 crore from operations compared to Rs 110 crore in FY23. However, the company’s losses nearly doubled, amounting to Rs 49.65 crore during the same period. For more comprehensive insights, consult various sources.
About Bharat Value Fund
BVF is a Category II Alternative Investment Fund managed by Madhu Lunawat of Pantomath Capital Management. The fund focuses on investing in growth-stage, profitable businesses, including renowned names such as Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.