Started in January 2021 by Pritesh Mahajan, Jayesh Tope and Pushkarak Salunke, Revamp Moto manufacturers electric two-wheelers for delivery agents, milkmen, vegetable vendors and others. The company came to the limelight in Shark Tank, India, where it raised funds from Anupam Mittal and Aman Gupta.
“Unlike other EVs, our focus is to solve mobility requirements of micro-entrepreneurs for their business as well as daily needs. Our products RM Mitra and RM25 are built not just for transportation but also for businesses to increase productivity and income. We are fortunate to have investors that are aligned with our purpose,” said Pritesh Mahajan, cofounder and CEO Revamp Moto.
The company plans to use the fresh funds raised in the round to hire top talent, product development and match the rising demand for mobility vehicles.
We are proud to be working closely with Revamp Moto to improve the last-mile delivery of our products. Their unique and innovative cold chain solution, powered by the battery of the vehicle, has the potential to significantly reduce spoilage related losses and overall logistics costs while lowering our carbon footprint,” said Vivek Gupta, founder of Licious.
The company competes with startups like River and Dispatch, which are also building electric scooters for the gig workforce.
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