iGoWise Mobility raises ₹8.2 crore to boost EV R&D and new variants

Over the next 12-18 months, iGo plans to expand operations in Bengaluru, Hyderabad, Pune, and Panjim.

“>

Electric vehicle startup iGoWise Mobility (iGo) on Monday announced that it has secured ₹8.2 crore in funding from a group of investors, including ISB Angels, 888VC and Guptaji VC, according to a report by PTI.

The company said the funding will accelerate tooling and automation to reduce production costs, enhance customer experience and after-sales support, drive further R&D efforts, and strengthen working capital to fulfil its current order book.

“By focusing on frugal innovation, agile engineering and a robust indigenous supply chain, we’ve proven that India can build world-class EV solutions that create real economic value and social impact,” said Sravan K Appana, Founder and CEO of iGo.Over the next 12-18 months, iGo plans to expand operations in Bengaluru, Hyderabad, Pune, and Panjim, deploying its first 1,500 electric trikes in partnership with fleet operators including Hala Mobility and Elektric Express.The funding comes at a time of rapid growth in India’s electric mobility sector, with startups like iGo driving innovation in last-mile transport solutions and contributing to the country’s push for sustainable urban mobility.

Join the community of 2M+ industry professionals.

Subscribe to Newsletter to get latest insights & analysis in your inbox.

All about ETAuto industry right on your smartphone!

• Download the ETAuto App and get the Realtime updates and Save your favourite articles.