Raptee, a prominent electric motorcycle manufacturer, has successfully raised $3 million in a pre-series A funding round led by deep-tech VC fund Bluehill Capital.
The round witnessed participation from industry luminaries, including Eugene Mayne, Founder and CEO of Tristar Global (UAE), Lakshmi Narayanan, Former CEO of Cognizant, and Ramesh Kannan, Managing Director of Kaynes Technology, among others from India and the UAE.
The newly acquired funds will be used for the manufacturing facility, acquiring essential machinery and tooling for the company’s upcoming motorcycle launch and expanding the team’s capabilities.
Raptee is a comprehensive electric motorcycle manufacturer with a robust indigenous technological foundation. The company has filed for over 45 patents to date.
Dinesh Arjun, Co-founder CEO, Raptee, said, “India is the largest motorcycle market in the world, with EV adoption on the rise. At Raptee, we want to launch a motorcycle in a mid-premium segment for consumers who believe that EVs are a true upgrade from ICE vehicles. We are extremely fortunate to be backed by investors from the manufacturing and transportation industries who understand long-term value creation and can add strategic value for us as we gear up for production and scale-up. This being our first institutional round, we’re also proud to be backed by a DeepTech VC, Bluehill Capital. We’ve been refining and testing our vehicles, and the results are very promising. We are looking forward to launching it very soon.”
Manu Iyer, CEO & Partner, Bluehill Capital, said, “We strongly share the vision of the Raptee team to build world-class core EV technology right here in Chennai, India in a focused and cost-effective manner. Dinesh and his co-founders have diligently built the vehicle platform indigenously with intellectual property on various aspects of the vehicle sub-system. Having evaluated over 30 EV OEMs in India and having invested deeply in the EV and clean-tech ecosystem in India, we are impressed by Raptee’s cutting-edge tech and are excited to partner with them on their journey. We believe Raptee’s motorcycles will change the face of EV 2-wheelers in India,”
Raptee is the first Indian two-wheeler EV OEM to introduce high-voltage drive train technology, complemented by an onboard charger. This advancement renders it compatible with the rapidly growing CCS2 public charging network, which currently boasts over 9000 installed chargers in India, a figure comparable to the number of fuel pumps.
The high-voltage technology integrated into Raptee motorcycles ensures a much safer battery pack and extends battery life, effectively addressing range anxiety.
Earlier this year, Raptee was the sole OEM to receive a grant from ARAI (Automotive Research Association of India), the authoritative certifying body for automobiles in India, towards designing and developing high-voltage powertrain technology. The company anticipates the debut of its first motorcycle in early 2024, with experience centres in Chennai and Bangalore, followed by expansion into eight additional cities by the end of the inaugural year.
Raptee has already commenced R&D efforts for its following line of products and is preparing to augment the team size to 150 by its business strategy. The commendable progress made by Raptee has garnered recognition from the Tamil Nadu Government, resulting in the allocation of a 36-acre property for the company, along with other incentives to support manufacturing expansion.
Raptee has steadily expanded its team to over 50 members in the past year. The company’s swift advancement and visionary approach have led to the onboarding of esteemed suppliers for motorcycle components and seasoned industry leaders, promising quality delivery and streamlined turnaround times as production scales up.
Raptee has established its inaugural factory in Chennai, spanning three acres, which will serve as the primary hub for most of Raptee’s Research and Development team. With an annual capacity of 100,000 units, the facility will house on-site development and testing facilities and a dedicated battery pack assembly line. The projected investment for this factory is approximately INR 800 million crore.
Raptee’s EV motorcycle is slated for launch early next year, with plans to expand to 100 cities in India and explore select international markets conducive to their growth over the next three years.
Carolwood LP Completes Acquisition Of Indian Motorcycle Company From Polaris, Mike Kenney Takes Over As CEO
- By MT Bureau
- February 03, 2026
Carolwood LP has officially closed its agreement with Polaris to acquire the iconic Indian Motorcycle Company, which will now become an independent business.
The transition coincides with the 125th anniversary of the company, which also sees Mike Kennedy, a veteran of the motorcycle industry, take over as the Chief Executive Officer of the stand-alone entity.
The acquisition agreement includes the transition of approximately 900 employees to the new Indian Motorcycle Company. Manufacturing operations will remain at existing facilities in Spirit Lake, Iowa and Monticello, Minnesota.
Industrial design, technology and product development will continue at research and development centres in Burgdorf, Switzerland and Wyoming, Minnesota. Sales, service, and support for the dealer network and customers are expected to continue without interruption.
The company’s strategy involves concentrated investment in motorcycles, technologies, and craftsmanship. The executive emphasised a commitment to the brand's American manufacturing identity and its dealer partnerships.
Mike Kennedy, said, “It’s an incredible honour to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team. 2026 will be a special year to honour our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”
The new leadership intends to focus on transparency and collaboration with its global dealer network, incorporating feedback into operations, marketing, and product development.
“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation. Dealers are our most important partners, and we will judge our business based on the success of our dealers. We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing. America’s first motorcycle company will put America first. Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it,” added Kennedy.
Ather Energy Reports INR 9.95 Billion Revenue For Q3 FY2026
- By MT Bureau
- February 02, 2026
Bengaluru-based electric vehicle maker Ather Energy has posted its highest quarterly revenue to date, reaching INR 9.95 billion for Q3 FY2026, which marks a 53 percent YoY growth.
The company attributed the performance to sales volume growth as well as a rise in non-vehicle revenue. During the period, the company sold 67,851 units, a 50 percent increase YoY. Consequently, Ather’s national market share has expanded to 18.8 percent.
Ather Energy reported a narrowing of its EBITDA loss to INR 299 million, with the EBITDA margin improving by 1,600 basis points to (-3 percent). This progress is attributed to cost management and operating leverage.
Key Financial Data:
- Adjusted Gross Margin (AGM): INR 2.51 billion, up 111 percent YoY.
- AGM (Excluding Incentives): 23 percent, an increase of 1,100 bps YoY.
- Non-Vehicle Revenue: Contributed 14 percent to total income, led by software subscriptions, charging and services.
- Quarterly Loss Reduction: Narrowed by 45 percent compared to Q2 FY2026.
Tarun Mehta, Executive Director & CEO, Ather Energy, said, “Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far. Over the past few quarters, we have stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA. What is particularly encouraging is the strength of our ecosystem. AtherStack attach rates remain very high, and customer engagement is deepening even as our sales scale. All of this gives us confidence that the business is structurally prepared for sustainable, long-term growth.”
Suzuki Motorcycle India Reports 125,786 Unit Sales In January 2026
- By MT Bureau
- February 02, 2026
Suzuki Motorcycle India (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan has reported wholesales of 125,786 units in January 2026, which marks a 15 percent YoY growth.
In the domestic market, the sales increased by 14 percent to 100,296 units, as against 87,834 units last year, while exports came at 25,490 units, up 21 percent YoY.
Deepak Mutreja, Vice-President – Sales & Marketing, Suzuki Motorcycle India, said, “The sales results for January indicate growing demand in both domestic and international markets. This momentum is supported by our ongoing focus on continuous customer engagement, after‑sales service enhancement, and network expansion. We will continue to invest in these areas to ensure that customers receive a seamless and reliable ownership experience throughout the year.”
Furthermore, the company reported INR 895.6 million revenue through spare parts sales, marking a 20 percent YoY growth.
Yamaha EC-06 E-Scooter Launched At INR 167,600
- By MT Bureau
- February 02, 2026
India Yamaha Motor (IYM), a leading two-wheeler manufacturer, has announced the price of its first electric scooter – the EC-06 – at INR 167,600 (ex-showroom Delhi). The e-scooter based on the River Indie will initially be sold in select cities through the company's Blue Square showrooms in a Bluish White colour.
The EC-06 features a 4kWh fixed battery paired with an Interior Permanent Magnet Synchronous Motor (IPMSM). It offers a certified claimed range of 169km on a single charge. It has a claimed top speed of 79 kmph, 6.7 kW of peak power, 26 Nm of torque and can be charged in 8 hours using a standard plug. It comes with 3 years or 30,000 km warranty for the battery.
The vehicle is built with IP67-certified protection for the motor and battery, while other electronics carry an IP65 rating for water and dust resistance.
The scooter includes three riding modes – Eco, Standard and Power – alongside a Reverse Mode. The chassis uses telescopic front forks with hydraulic dampers and a rear coil spring suspension. Braking is handled by 200mm discs at both ends, supported by a Combi Brake System (CBS).
For storage and technology, the EC-06 provides 24.5 litres of under-seat space and a colour LCD display. It integrates with the ‘Yamaha Motor Connect R’ app for real-time data access.
Hajime Aota, Chairman, Yamaha Motor India Group, said, “The EC-06 marks an important step in Yamaha’s journey toward sustainable urban mobility. As India accelerates its transition toward a carbon-neutral future under the government’s visionary leadership, Yamaha is proud to support this national agenda through high-quality electric innovation. Designed for everyday commuting, it balances efficiency with performance, offering an impressive range and intuitive features. As a first-of-its-kind model from Yamaha, it demonstrates how sustainability and riding excitement can coexist – true to our brand philosophy and our responsibility towards the future of India’s green economy.”
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