Mahendra Singh Dhoni, the legendary Indian cricketer, has made a strategic investment in EMotorad, an electric cycles maker based in Pune. This investment not only grants Dhoni equity ownership in EMotorad but also marks his entry as the brand’s official endorser, adding a significant boost to the company’s visibility and credibility.
EMotorad, founded in 2020 by Kunal Gupta, Rajib Gangopadhyay, Aditya Oza, and Sumedh Battewar, has rapidly gained prominence in the e-cycle market. Their innovative approach and commitment to sustainability have led to capturing a remarkable 65% share of the e-cycle market in India.
Dhoni’s investment comes at a crucial time for EMotorad, following a successful Series B funding round that secured Rs 164 crore in November 2023, led by Panthera Growth Partners. The company has raised a total of $20 million in equity funding to date, highlighting investor confidence in its growth trajectory.
In a statement, Dhoni emphasized his belief in new-age companies that focus on building sustainable solutions. His partnership with EMotorad signifies a shared vision for innovation and environmentally friendly mobility solutions.
One of EMotorad’s key strategies is to expand its reach across tier-II, III, and IV cities in India, tapping into growing demand for eco-friendly transportation options. The company currently operates through a network of over 350 dealers and 10 experience centers, offering a seamless buying experience for customers.
With an eye on future growth, EMotorad aims to achieve sales of Rs 270 crore by the end of FY25, with significant contributions expected from international markets such as the US and Europe. This global expansion underscores EMotorad’s ambition to become a key player in the international e-cycle market.
Moreover, EMotorad’s recent initiatives, such as launching a budget-friendly e-cycle priced at Rs 25,000 and plans to establish a new manufacturing facility in Pune, demonstrate the company’s agility and commitment to meeting diverse customer needs.
Dhoni’s association with EMotorad is not limited to financial investment; it also brings his extensive brand appeal and credibility as an avid biker. This collaboration is expected to resonate with consumers, further enhancing EMotorad’s position as a trusted brand in the e-biking category.
MS Dhoni’s investment in EMotorad signifies a significant milestone for both parties and reflects the growing momentum in the electric mobility sector. With Dhoni’s backing and EMotorad’s innovative products and strategic initiatives, the future looks bright for sustainable and eco-friendly transportation solutions in India and beyond.
