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Creatara Mobility Raises $1M for EV Development

Business |Investment

Creatara Mobility has received $1 million from GEMS Partners to advance its electric two-wheeler platform, which will be used for R&D and expanding EV distribution.

830 views | Date: June 21, 2024

Creatara Mobility Raises $1M for EV Development

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New Delhi-Creatara Mobility Pvt Ltd., an electric vehicle manufacturing company, has secured one million USD from GEMS Partners. The company was founded in 2018 by two IIT-Delhi graduates, Vikas Gupta and Ringlarei Pamei, company aims to enhance urban mobility and promote sustainability through initiatives such as electric vehicles and smart transportation systems.

Mr. Vikas Gupta, Founder and CEO of Creatara, said, “This significant investment marks a pivotal moment for Creatara as we work towards bringing our cutting-edge two-wheeler electric vehicles to the market. This significant investment marks a pivotal moment for Creatara as we work towards bringing our cutting-edge two-wheeler electric vehicles to the market.”

The funding is intended to support research and development, testing, manufacturing, and distribution efforts related to its electric vehicles.

Earlier in May this year, the company received a Rs 3.9 crore grant from the Ministry of Heavy Industries under the Capital Goods Scheme. This grant supports the advancement of indigenous technology.