Racenergy Pvt. Ltd, which is developing electric vehicle powertrains and recharging infrastructure, has raised funding from growX Ventures and early-stage investor Prophetic Ventures.
The company, founded in 2018 by Arun Sreyas and Gautham Maheswaran, also raised capital from angel investors Ananth Nakirikanti and Sidhartha Namburi.
RACEnergy is part of Huddle’s EV Accelerator Program, which was setup along with growX Ventures. It will use the capital for product development and conducting pilot projects, Sreyas told VCCircle.
The EV solutions provider is also aiming to expand its swapping infrastructure for three-wheeler vehicles across a metro city and launch more variants of its products in the medium term, Sreyas added.
Source: VC Circle
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