Hyderabad-based EV OEM secures its first external investment to accelerate growth and expand its electric mobility ecosystem.
Hyderabad-based electric vehicle mobility manufacturer ElectriQ Solutions Private Limited has successfully completed its early seed funding round, attracting investments from Early Seed Ventures, backed by Eisen Enterprises, along with a group of angel investors and high-net-worth individuals (HNIs).
The funding marks the company’s first external capital raise and represents a significant step in its growth journey as it aims to scale its electric mobility platform in India and international markets. The fresh capital will support ElectriQ’s plans to strengthen vertical integration and further digitize its backend operations to improve efficiency and scalability.
Founded in 2021-22, ElectriQ focuses on providing affordable and sustainable electric mobility solutions for gig workers and last-mile delivery partners. The company has developed an integrated EV ecosystem designed to address the mobility needs of delivery riders while improving operational economics.
Commenting on the development, Anand Thakur, Founder and CEO of ElectriQ, said the company was established with the belief that sustainable transportation should also be economically viable for both vehicle operators and riders. He noted that ElectriQ has remained profitable since its inception without relying on external funding, demonstrating the strength of its business model.
According to Thakur, the newly raised capital will help accelerate the company’s growth plans, including deploying more than 25,000 electric vehicles and creating a positive impact on over 50,000 riders over the next three years across domestic and overseas markets.
ElectriQ has built a comprehensive end-to-end EV ecosystem that combines vehicle solutions, technology-driven operations, and support services aimed at enhancing the adoption of electric mobility in the rapidly expanding last-mile delivery segment.
