Hero Electric

Hero Electric

Manufacturer of electric scooters

Founded

2007

Headquarters

Gurugram (India)

Status

Series B

Company Details

Website

Socials

Email

Phone

+91-1246830000

Hero Electric is a leading manufacturer of electric two-wheelers in India, recognized for its commitment to sustainable transportation solutions. Here are the key details about the company:

Hero Electric specializes in a wide range of electric scooters designed for various customer needs. Some of their notable models include:

  • Optima CX5.0

  • Optima CX2.0

  • NYX HX (Dual Battery)

The company has sold over 500,000 electric two-wheelers, making it one of the oldest and largest players in the Indian electric two-wheeler market.

Manufacturing and Infrastructure

Hero Electric operates a manufacturing facility in Ludhiana, Punjab, where it produces its electric scooters. The company has established an extensive distribution network with over 850 sales and service outlets across India, along with a growing charging infrastructure.

Innovations and Initiatives

Hero Electric has been at the forefront of introducing innovative solutions in the EV sector:

  • It was one of the first companies to launch lithium-ion battery-based electric scooters in India.

  • The company has developed a unique concept of charging stations to facilitate easy access to charging for users.

Market Position

Hero Electric is recognized as India's first and largest manufacturer of electric two-wheelers, trusted by a wide customer base. The company continues to play a crucial role in promoting electric mobility and sustainable travel solutions across the country.

Recent Developments

In recent years, Hero Electric has focused on expanding its product range and enhancing its market presence through strategic partnerships and collaborations aimed at driving EV adoption.

In summary, Hero Electric is a pioneer in the Indian electric two-wheeler industry, dedicated to providing eco-friendly transportation solutions while contributing to the growth of the electric vehicle market in India.

Key People

Sohinder Singh Gill

Vijay Munjal

Naveen Munjal

Key Metrics

Total Equity Funding

$130Million

No. of Funding Rounds

9

Latest Funding Round

$26.6M, Series B

as of June 22, 2023

Post Money Valuation

$199 million

as of N/A

Funding Multiple

102.27

as of N/A

Investors

Vocean

and 2 more

Employee Count

844

Similar Companies

Baaz

Exit Details

N/A

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
June 22, 2023 Series B$26.6M $199.0M Wafi Investment, Heroecotech, Vocean
July 8, 2021 Series B$30.1M$167.0M$66.3M- Camil Investments Vocean
January 27, 2021Series A $668.0K$98.7M$41.6M2.3x Innovative Quest

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