Etrio raises $3 million in series A to launch new EV product lines

Hyderabad based retrofitted e-LCV firm Etrio raised $3 million in Series A round from HNI investors based out of Singapore. The group of investors is led by serial investor, Janardhan Rao, founder of Triumph Global Group, a Singapore head-quartered company.

The investment will fuel the company’s foray into new electric vehicles in three wheelers and bicycle product lines. The company aims to focus on customer acquisition across both B2B and consumer segments, said the company.

Touro, Etrio's three-wheeler brand is scheduled for market launch in October 2020. It will have two variants Touro Mini and Max across both cargo and