Angel investors Raaj Kumar funds startup
Bangalore’s TresMoto, backed by global energy MNC Shell, is set to use an undisclosed amount in seed funding for final stages of product development and homologation of electric scooter.
“We have been working on our product offering and the software around it for about four years now. This round of funding will be utilized for final stages of product development and homologation of our flagship electric scooter,” said Shubham Jain, the Founder of TresMoto, a smart EV startup.
The seed funding came from Angel Investor and professional CEO Raaj Kumar, who has led multinational companies like Asian Paints, GMR Energy, JSW Energy among others.
The company is working on a range of smart, electric two wheelers based on in house developed platform ‘OXEN’. Their flagship offering will be a sleek urban scooter with a top speed of 75-km/h and an array of compact, ergonomic batteries that can be removed from the vehicle and charged at home for a range of up to 90-km which is more than enough for daily urban usage. For the weekend rider, the scooter can go further by carrying a range extender battery pack which fits snug into the boot of the vehicle.
TresMoto is designing the scooters to be functional and minimal to give them a modern and rugged look, along with performance to match the appearance. The founders believe that the traditional two wheeler offerings in the Indian market are outdated when it comes to technology, styling and optimization of design.
The company is working on designing the scooters ground up with user experience in mind. The scooters are driven by software that can be updated over the air and the company claims that they will keep improving the range and performance of the vehicles with future updates.
The scooters will come equipped with smart features like GPS navigation assist, remote locking and unlocking, keyless unlocking and telematics. The scooters will also come along with a companion app which will offer cutting edge features like AI-powered remote diagnosis, remote asset tracking, personalised rider profile and ride analytics. The app will also offer next gen security features like geofencing which will let you easily define the area of usage for your scooters, both for riding and when parked. Although electric scooters have far less service requirement than their petrol counterparts, you will be able to book a service whenever required right at your doorstep.
The secret sauce is the in-house developed modular EV platform ‘OXEN’, which lets the company design new products with a fraction of resource and time. This platform can be adapted for scooters ranging from 2- to 15-bhp. Moreover these scooters will be built in microfactories with a tiny footprint which will allow the company to scale to multiple locations much faster and at a fraction of the cost.
The company has previously been incubated and funded by Shell. The Shell E4 programme has brought refinement to the company’s development process and product offerings. The company is focused on making their scooters more reliable and rugged than any other scooter in the market.
The founder also mentioned that TresMoto is working on a simpler product optimized exclusively for fleet usage. The company will pilot with a small batch of these scooters with delivery and rental companies before offering their flagship product to the consumer market.
“The next generation of smart scooter offerings that we are going to see this decade from upcoming players like TresMoto and others in this space are unlike the e-scooters we have seen on the Indian roads in the past,” said the company in a release on 12 Jan 2021.
“These come equipped with a new generation of motors, power electronics and batteries and are built to outperform their petrol counterparts in every aspect. Modern EVs are simply evolution that has been long due in automotive tech, this change can be compared to what we saw in the smartphone space 15 years ago.” #technology #startup #electric vehicles #banking #funding /fiinews.com
