Ex-Tesla exec’s EV startup charges ahead with $3m funding

The Raptee team / Photo credit: Raptee

In just five years, India’s electric-vehicle sector has surged, positioning the country to become the world’s largest EV market by 2030.

In addition to their cost and environmental advantages, EVs also enjoy tax benefits in India. However, despite having 3 million EVs on the road, the country hasn’t established standardized charging protocols for these vehicles.

With that in mind, Raptee said it is the first Indian EV startup to opt for the Combined Charging System Type 2 connectors, or CCS2. By integrating both AC and high-power DC charging, the system expedites the charging process, particularly at Level 3 charging stations.

Founded in 2019 by Tesla alumnus Dinesh Arjun, the company recently raised US$3 million in its pre-series A funding round led by Bluehill Capital.

Funding details

• Funding amount: US$3,000,000
• Lead investor: Bluehill Capital
• Other investors: Eugene Mayne, Lakshmi Narayanan, Ramesh Kannan, Chandu Nair
• Stage: Pre-series A
• Source

Raptee is looking to integrate high-voltage drivetrain technology into its two-wheelers, along with an on-board charger, making it compatible with the existing CCS2 public charging network. The CCS2 cable is mostly used across Europe and is fast-growing in India as well.

The company has filed for over 45 patents so far.

The fresh funds will be used to improve the company’s manufacturing facility, acquire machinery and tooling for their upcoming vehicle, as well as ramp up hiring.

Aside from Arjun, who was previously a program manager at Tesla, co-founders include Phunith Kumar V, Karthikeyan Adhikesavan, and Keerthivasan Ravi, who was the fabrication head at Formula Bharat.

See also: Malaysia’s national carmakers are joining the EV wagon, but hurdles remain

Raptee is looking to launch its first motorcycle for the mid-premium segment in early 2024. It is also opening experience centers in Chennai and Bangalore, with plans to enter eight more cities by the end of that year.

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