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Startup

Looking for seed funding for electric motorcycle project

We are a team of two members, inspired by some US based electric motorcycle companies, we thought of starting our own brand of electric motorcycles in India. From last year August, we started studying about the product and this year in the month of July, we created a working prototype of the electric motorcycle.

The motorcycle replaces major parts of a traditional motorcycle such as an engine or clutch and uses an electric motor, batteries, controllers and other electrical parts to complete a working electric motorcycle. There is no need of petrol; no engine oil or clutch; has fewer moving parts and has very low cost of maintenance; there is no pollution and is environment friendly. The prototype has a top speed of 65KMPH and has a range of 30 KMS.

The main idea behind the project is to manufacture affordable electric motorcycle whose price is equivalent to petrol counterparts.

Two months prior to completing the prototype, we met a VC in Chennai; at that time we had not completed the prototype. The VC was very much interested in the project, that he encouraged us to complete the prototype and assured funding for the project. He also referred another VC company and asked me to email the business plan to them.

After completing the prototype, when we approached him, but he didn’t acknowledge us and he tried to ignore us. I even asked for the reason, but he failed to comment. Now we are stuck and we have no clue as to whom to approach. I tried to email few investors, but I never got a reply. I have been trying all the possible ways to contact someone for funding but everything seems negative.

I don’t know who would support this kind of project and would help us move forward, although the Government has few schemes to support the manufacturing, such as NEMMP 2020 (National Electric Mobility Mission Plan 2020) and FAME (Faster Adoption and Manufacturing of Hybrid and Electric vehicles).

We are in need of seed fund to make a better prototype with some advanced techniques. We just have a working prototype. We have also built 2 other motorcycle for our friends who were interested.

Here is the business plan PPT (10 slide) for your read-through


Also I have spoken few words about the motorcycle project in a short video, please take a look here:


I would request any tips or any help to connect to investors who would be interested.

Twitter: @twitpandian & @fixonline4u

Thanks & Regards,
Pandian S
+91 9962574009
yes.pandian@gmail.com

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6 Comments

  1. hey pandian,

    this is so cool!

    have you approached hemlatha annamalai?

    http://therodinhoods.com/forum/topics/the-lady-elon-musk-of-india

    i suggest you also do some research on which VCs fund environment friendly projects!

    i’m sharing with you some imp links for anyone who is seeking funding. these will help you for sure.

    http://therodinhoods.com/forum/topics/alok-kejriwal-on-raising-money

    http://therodinhoods.com/forum/topics/99-questions-every-investor-will-ask-especially-a-vc

    http://therodinhoods.com/forum/topics/how-to-get-funded-when-over-200-people-asked-in-unison

    also do look at alok’s funding pitch template 🙂

    http://therodinhoods.com/forum/topics/a-ready-to-use-template-for-pitching-your-business-for-funding

    all the best. let me start sharing this over social media!!

    ps: if you have any specific questions regarding funding – feel free to post in ASK RUDRAJEET

    http://therodinhoods.com/forum/topics/ask-rudrajeet-anything-about-starting-up

  2. hey pandian,
    any luck?

    • Hi Asha Mam,

      After you made the post live on TRH and Alok Kejriwal Sir posted this on social media, the next day I got around 5 calls and 2 emails.

      I am very happy that some one would surely help me out. But everybody asked me only this question “What is that you could offer to the investor?”
      I tried very hard to impress them, but nothing worked out. I am still at prototype stage, I need some more money to make a production ready motor bike. Then I would be ready for production. I explained this to the investors, but nothing helped.

      Last week the manager from Catapooolt (Crowdfunding site) called me and asked me to go for crowd funding. I am just preparing for that now. Hopefully the campaign should be live by next 2 or 3 days.

      I thought of informing everything after the campaign started. I am thankful to your and Alok Kejriwal Sir for all your help. Let me hope for the best with crowdfunding.

  3. hey pandian,
    your post was re-shared on fb and rodinhooders have been commenting on it with suggestions. pls follow this post and reply to the comments if you can.
    take care and ALL THE BEST!
    https://www.facebook.com/TheRodinhoods/posts/1281620245235066?comment_id=1284105124986578

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