Varcas Electric has raised $1.5 million in a seed funding round led by Nikul Gala & family, along with their marquee HNIs, such as Anil Basa, Cyprian D’mello, and more.

Notably, Varcas Electric is a 100% owned subsidiary of eBikeGo and was established to fulfil the former’s manufacturing requirements.

Dr Irfan Khan, Founder & CEO, eBikeGo, noted that Varcas Electric is on its way to creating an EV 2-wheeler powertrain which it claims will enable multiple vehicle configurations.

He said, “The idea is to introduce and establish world-class, 4th generation electric vehicles from around the globe, such as the likes of Muvi and Velocipedo, and significantly impact the present state of electric mobility.”

Currently, eBikeGo has more than 2,500 active 2-wheelers in its fleet for EV rental and subscription and has collected around one petabyte of data through conscious monitoring of its fleet.