MS Dhoni Backs Electric Cycle Company EMotorad

Dhoni & founders of EMotorad
Preeti Bali / 2:17 pm / April 17, 2024

Indian cricket legend Mahendra Singh Dhoni has invested in electric cycle manufacturer EMotorad, taking an ownership stake and becoming the company’s brand ambassador. This investment comes on the heels of EMotorad’s successful Series B funding round in November 2023, which raised $20 million.

EMotorad: A Leader in the E-Cycle Market

Founded in 2020, EMotorad has established itself as a prominent player in India’s electric cycle market. The company boasts a nationwide network of over 350 dealers and 10 experience centers. They emphasize sourcing roughly 70% of their components locally, contributing to India’s self-reliance efforts.

Impressive Sales Figures and Continued Growth Ambitions

EMotorad has reported strong sales figures, having sold over 80,000 electric cycles in the past three years. With ambitious goals for expansion, they aim to reach a global sales milestone of 100,000 electric cycles by the 2025 fiscal year.

A Competitive E-Cycle Landscape

EMotorad faces competition from established players like TrottleMotors, eLIFE, Motovolt, and Yulu. Dhoni’s investment, however, signifies his belief in EMotorad’s potential to stand out in this growing market.

Dhoni’s Investment Portfolio

This investment adds to Dhoni’s diverse portfolio, which includes ventures in various sectors like aerospace (Garuda Aerospace), plant-based protein (Rigi), fitness (Tagda Raho), financial technology (Khatabook), and the pre-owned car market (Cars24).

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