Revamp Moto
Develops highly reliable, modular, and connected electric vehicles based on modular utility platforms.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $1.0m | Seed | |
| Total Funding | 000k | ||
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Based in Nashik, India, Revamp Moto is an electric vehicle manufacturer specializing in modular two-wheelers designed to serve the needs of micro-entrepreneurs and last-mile delivery operators. The company was established in 2020 by Pritesh Mahajan, Jayesh Tope, and Pushkaraj Salunke. The founding team combines diverse expertise: Mahajan is an IIM Sambalpur alumnus with experience as a Project Manager at SBI; Tope holds a mechanical engineering degree and worked on the Mahindra Thar project; and Salunke is a professional in robotics and IoT. The company gained significant visibility and funding after appearing on Shark Tank India, where it secured a deal of ₹1 crore.
Revamp Moto's business model centers on manufacturing and selling electric vehicles built on a Modular Utility Platform. This platform allows users to customize their vehicles with various attachments to suit different business and personal needs. The company targets gig economy workers, delivery agents, and small vendors, aiming to increase their productivity and income. Beyond vehicle sales, the company's mission is to create a supportive ecosystem by offering micro-financing options, mentorship, and connections to B2B networks to foster micro-entrepreneurship. Revenue is generated from the direct sale of its electric vehicles and proprietary attachments. The company has established a contract assembly partnership with Panache DigiLife, enabling an annual production capacity of 1.5 lakh EVs, and has formed collaborations with financial institutions like Bajaj Finserv and the State Bank of India to facilitate customer purchases.
The company offers two main products: the RM Buddie 25 and the RM Mitra. The RM Buddie 25 is a low-speed electric scooter with a top speed of 25 km/h and a range of over 70 km. It features a payload capacity of 120 kg and is accompanied by swappable attachments like a child seat, insulated boxes, and carriers, which can be changed in under 30 seconds. The high-speed model, RM Mitra, offers a top speed of 65 km/h, a range of up to 140 km, and a load capacity of 200 kg. A unique feature of the Mitra is its battery's ability to act as a mobile power source, capable of running small appliances like a refrigerator, oven, or fans. Both vehicles are equipped with swappable batteries and IoT telematics for features like live tracking and geo-fencing.
Keywords: electric vehicle manufacturer, modular electric scooter, last-mile delivery solutions, micro-entrepreneurship, utility EVs, swappable attachments, Shark Tank India, EV financing, connected vehicles, B2B logistics, sustainable transportation, electric two-wheelers, mobile power source, modular utility platform, RM Buddie 25, RM Mitra, asset-light business, EV for small business, commercial electric vehicles, delivery fleet solutions