loading

Experience - ET AUTO


By : ET Date : 11-May-2017

EV startup Twenty Two Motors raises $1.6 mn in pre-series A round funding

Twenty Two Motors was incorporated in August 2016 by Parveen Kharb & Vijay Chandrawat and the company plans to launch its first vehicle to masses in Q1, 2018.

EV startup Twenty Two Motors raises $1.6 mn in pre-series A round funding
NEW DELHI: Gurgaon-based Twenty Two Motors has raised $1.6 million in its pre-series A round funding led by Ishwar Singh, CEO, Haryana Industries, informed the company in a press statement.

Farhaan Shabbir, former director of Harley-Davidson also joined the investment round to further strengthen his belief in the start-up company he joined as a founding member.

Twenty Two Motors was incorporated in August 2016 by Parveen Kharb & Vijay Chandrawat and the company plans to launch its first vehicle to masses in Q1, 2018.

“Tremendous work has been done in the prototyping and developing of the highly effective EV since our launch. We have been able to attract the seasoned and quality talent from major Auto companies. Major hurdles of developing Lithium-ion battery, battery management system & smart electronics has also been resolved. This investment is an acknowledgment of our belief that we are working on the product for future generations,” said Parveen Kharb, Co-founder & CEO, Twenty Two Motors.

Talking about their product, the company said "Smart scooter will be fully IOT compliant having devices like GPS, GPRS, Gyroscope, accelerometer etc making it virtually theft proof. Data from these IOT devices is being decoded by servers by using Data mining and Artificial intelligence techniques to precisely determine to ride behavior of the user."

“Investment will be used meticulously to build and prove the product apart from strengthening startup’s human resource capabilities. Broadly, Investment will be channeled for Prototype vehicle development, Testing, Strengthening Team, Component Development and Factory Setup. Investment certifies our potential and is expected to provide exponential growth to the company,” comments Vijay Chandrawat, Co-founder & COO, Twenty Two Motors.

“We have strategically invested in TTMPL as we could find synergies between both the businesses. Industrial house will gain insights in EV domain while Twenty Two Motors will have increased capabilities to shorten their product development cycle," said Ishwar Singh, CEO, Haryana Group of Industries, a leading automobile component manufacturer across the globe.


Write to us

Find us on