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Motovolt Mobility Pvt. Ltd, an e-mobility company, has announced that it has raised Rs 16 crore in pre-series A funding led by Wami Capital, a Dubai-based single-family office.
Other investors such as PPAP Automotive, Vikrampati Singhania of JK Family, Ankur Agarwal of Crystal Crop, Vikas Bagaria - founder of D2C company Pee Safe), and other family offices participated in this round.
The funds raised will primarily be used for new product introduction, marketing initiatives, and growing Motovolt’s presence through more retail points pan India.
Tushar Choudhary, founder and CEO, Motovolt, said, “The pre-series A funding will enable us to move
