Tech Firm Entuple E-Mobility Secures $3 Million in Pre-Series A Funding
Funds to be used in R&D to develop traction motors and drives
Electric powertrains technology company Entuple E-Mobility has raised $3 million in pre-series A funding from Blue Ashva Capital and Capital A, to enhance the company’s research and development (R&D) capabilities for new technologies.
The company said the funding will be used to develop next-generation traction motors and drives for mobility applications, including machine learning and advanced telematics capabilities in its product.
Rakesh Mishra, Founder, and CEO of Entuple E-Mobility said, “We are focused on bringing in technologically superior powertrains across the complete spectrum of mobility applications. We will also be launching a suite of hub-motor and mid-drive motor powertrains over the next three months.
The company said it has developed a product portfolio of 23 variants of integrated motors and controllers that have an energy efficiency of >91% compared to about 70% for products in competition.
It has also launched a series of hub-motor and mid-drive motor powertrains for 2 Wh and 3 Wh applications by leveraging its indigenous powertrain solution stack, the company said.
Satya Bansal, Founder of Blue Ashva Capital said that a huge gap in India’s EV value chain exists currently with a high reliance on low-reliability imports for critical components.
“We believe that the growth of the EV market largely depends on access to technology and supply chain for battery cells and powertrains which account for almost 60% of the cost of the vehicle. Entuple E-Mobility is well positioned to cater to the quality and cost requirements of its clientele,” Bansal said.
The Bengaluru and Thiruvananthapuram-based start-up said that its product development approach is based on four key pillars which include high motor and controller efficiency, reliability for varied drive conditions, smart powertrains enabled with advanced algorithms, and maximization of local sourcing to benefit from the FAME II program.
Recently, another Bengaluru-based electric vehicle (EV) charging aggregation platform ElectricPe closed a pre-series A funding round of $5 million, taking the company’s total capital raised in the last 12 months to $8 million.
The National Highways Authority of India (NHAI) proposed to power electric vehicle (EV) charging stations along highways with solar energy wherever feasible, the Ministry of Road Transport and Highways (MoRTH) said.