BGauss, an electric two-wheeler manufacturer, has raised ₹161 crore in a new funding round, comprising a mix of primary and secondary capital from Bharat Value Fund (BVF), a mid-market growth investment house.
The funds raised will be used to accelerate its growth strategy, expand its footprint in India and abroad, and bolster its in-house research and development for upcoming product launches. BGauss also plans to deploy the newly raised funds into capex, marketing, and broader expansion efforts, including the launch of two new electric two-wheeler products in the current year.
BGauss will also focus on increasing its dealership network from 120 to 500, while simultaneously aiming for 1,000+ touchpoints across the country.
Madhu Lunawat, CIO, Bharat Value Fund, said, “We are excited to partner with BGauss, spearheaded by the visionary and dynamic leader, Hemant Kabra. This investment reaffirms our commitment to empowering environmentally conscious businesses that drive positive change. As early advocates of sustainable mobility, we’ve been actively tracking and supporting eco-friendly initiatives since pre[1]pandemic times. With this transaction, both teams shall work together towards creating a greener tomorrow.”
Hemant Kabra, Founder and Managing Director, BGauss, said, “We are thrilled to welcome Bharat Value Fund as a strategic partner in our growth journey. Their proven track record in nurturing profitable, growth-stage companies aligns perfectly with our ambition. This funding will accelerate our mission to be among the top five EV two-wheeler players and bring cutting-edge, reliable electric scooters to the market. We look forward to expanding our dealer network, boosting manufacturing capacity, and delivering two exciting new products fully designed, engineered, and made for India.”
Darshan Patel, an existing investor and Founder of Vini Cosmetics, added, “Our association with BGauss over the last two and a half years has been an incredible journey. We are excited for the future and wholeheartedly welcome Bharat Value Fund. We believe this new partnership will take BGauss to greater heights, strengthening its position in the EV industry.”
Founded in 2020 by Hemant Kabra, BGauss Electric offers a range of dynamic, premium, yet affordable electric scooters to bring sense to every city. BGauss offers a hassle-free ownership experience with a wide dealership network and a focus on customer satisfaction.
BGauss currently has a manufacturing capacity of 100,000 units per year, which the company intends to scale further as demand grows.
The Pune-based startup currently claims to serve around 45,000 customers and a 1.5% market share.
