Not Just Cricket Field, MS Dhoni Bats For This Electric Cycle Brand By Becoming An Investor
Dhoni is famous for leading successfully and showing his skills on the Indian cricket field. He used to lead the Indian cricket team and has also invested in various companies, including those in the auto, sports, and food and drink industries. Recently, he invested an undisclosed amount of money in EMotorad, a company that makes electric cycles, and he's now the company's ambassador.
EMotorad is a company that makes electric bikes at affordable prices for adventurers, commuters, and casual riders.
About EMotorad?Doodle V3
Doodle V3 is a unique foldable e-cycle that¡¯s your perfect companion for city rides and mountain biking. Its powerful removable 12.75ah battery can power over 60 km on a single charge, speeding up to 25 kmph.
According to ET, Dhoni invested in EMotorad, which gave him a share in the company. He'll also promote EMotorad as its face.
The investment will give Dhoni ownership in EMotorad, besides his role as its brand ambassador, said the company's founder and CEO, Kunal Gupta told ET.
MS Dhoni Other Investments
EMotorad joins the list of startups Dhoni has invested in over the years, including fitness startup Tagda Raho, digital lending platform Khatabook, and used car retailer Cars24.
Mahendra Singh Dhoni had invested in Chennai-based drone startup Garuda Aerospace in March 2022. He was also roped in as the brand ambassador of the startup that has about 400 drones and 500 pilots.
MS Dhoni-backed drone startup Garuda Aerospace is planning for an IPO in mid-2024. The company's CEO had earlier said they are accelerating IPO plans to expand operations and will likely launch the offer in the second half of this year.??
ALSO READ:?List Of Startups In Which CSK's Former Captain MS Dhoni Has Invested
Founded in 2020??
Founded in 2020, EMotorad has captured a significant portion of India's e-cycle market. The company raised Rs 164 crore in November 2023 in a funding round led by Panthera Growth Partners.
Dhoni's association with the brand will boost awareness and trust in e-bikes, according to Gupta.
EMotorad has a wide network of dealers and experience centers across India and aims to increase sales in the coming years.
The company plans to expand its product range and set up a new factory in Pune. It also aims to tap into international markets like the US and Europe.
While most of EMotorad's sales happen offline, the company also sells its products online through its website and platforms like Amazon and Flipkart.
In 2023, EMotorad introduced a budget e-cycle priced at around Rs 25,000, in addition to its premium range. They are also working on expanding their reach beyond tier I and II cities.
ALSO READ:?Backed By MS Dhoni, Drone Startup Garuda Aerospace
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