
Twenty Two Motors
Twenty Two Motors aim of making cutting edge EV technology affordable for the current generation.
Date | Investors | Amount | Round |
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investor investor | €0.0 | round | |
investor | €0.0 | round | |
N/A | Acquisition | ||
Total Funding | 000k |
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Twenty Two Motors Private Limited was positioned as a developer of connected electric scooters for the Indian market, before being acqui-hired by the bike-sharing platform Bounce in October 2021. The company was founded in Gurugram in 2016 by Parveen Kharb, an automotive industry veteran with experience at brands like BMW and Toyota, alongside Vijay Chandrawat and Farhaan Shabbir.
The firm's flagship product was the 'Flow' electric scooter, engineered for Indian road conditions and showcased at the Auto Expo in 2018. The Flow was designed with a 2.1 kW Bosch electric motor, reaching a top speed of 60 km/h. Its key feature was the option for up to two removable lithium-ion batteries, which provided a combined range of up to 160 km. These batteries could be charged using a standard 5 Amp socket, with a fast-charging capability that reached 70% in about an hour. The scooter incorporated a suite of smart features, including cloud connectivity, artificial intelligence that learned from riding habits, GPS for geofencing and anti-theft, and a mobile app for remote diagnostics and monitoring. Other notable features included a combined braking system with front and rear disc brakes, regenerative braking (KERS), cruise and reverse modes, and storage space for two helmets.
In a significant milestone, Twenty Two Motors formed a joint venture with Taiwanese scooter giant KYMCO in October 2018. KYMCO invested in the company, taking a reported 25% stake, with plans to integrate its 'Ionex' battery swapping technology into the Flow scooter. The partnership, branded as Twenty Two KYMCO, aimed to establish a robust EV ecosystem in India, but the venture did not fully materialize. Despite announcing plans to launch the updated 'iFlow' and other models, the products did not reach the market as scheduled. Subsequently, in a strategic move to enter the EV manufacturing space, Bounce acquired Twenty Two Motors in a deal valued between $7-10 million. The acquisition included the manufacturing facility in Bhiwadi, and the company's team, led by co-founder Farhaan Shabbir, joined Bounce to develop a new line of electric vehicles.
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