Electric motorcycle manufacturer Revolt Intellicorp on Wednesday announced that it has raised INR 150 cr from Rattan India Enterprises Limited. As part of the deal, RattanIndia Enterprises will hold an equity share in the company, with Rajiv Rattan joining as non-executive chairman of the company’s board, a press release from the company said.
Revolt Intellicorp will leverage this collaboration to expand its footprint pan India and across South Asia markets. This deal happens to be RattanIndia Enterprises’ first investment in an Indian start-up focused on smart, clean and eco-friendly transportation.
Rajiv Rattan, Founder and Chairman of RattanIndia Group, said, “We are very excited to join hands with Revolt Intellicorp and be a part of the electric mobility shift which is undoubtedly poised to be at the forefront of India’s green revolution. We are upbeat about the future of the sector as well as the product innovations that have come from the Revolt Motors till date; with this endeavour, we hope to be a part of the massification of smart, clean and eco-friendly transportation for commuters across the country.”
Revolt Intellicorp will be deploying the fresh capital to expand the distributor and service network across pan India to 35 cities.
In addition to this, the company will be leveraging AI to upscale and provide a 100% in-house developed – Made in India, world-class contactless experience for its customers.
Rahul Sharma, Founder, Revolt Intellicorp, said, “At Revolt Intellicorp, we are determined at providing better and safer e-mobility solutions to our customers. Despite challenges brought by the pandemic, Revolt Motors has emerged as a global powerhouse expanding its footprint to six cities across India. Our partnership with RattanIndia Enterprises, complements our vision to offer eco-friendly transportation solutions as well as expand our reach to a larger base of customers across top 35 Indian cities.”
This investment further expands the company’s commitment to support innovation and technology, democratising clean commute using next-gen mobility solutions while focusing on creating next-gen mobility with 100% accessibility and zero percent fuel residue.