Vajram Electric

Vajram Electric

Manufacturer of multi-category electric vehicles

Founded

2022

Headquarters

Mumbai (India)

Status

Seed

Company Details

Website

Socials

Email

Phone

+91 - 2248964173

Vajram Electric is a leading Indian electric vehicle (EV) manufacturer, recognized for its innovation, precision engineering and sustainable manufacturing practices. Vajram Electric operates as a wholly owned subsidiary of eBikeGo. The company has quickly positioned itself as a key player in the domestic and global EV industry, serving both urban and rural markets with a diverse portfolio of electric mobility solutions.

Products & Services 

  • Electric Two-Wheelers: High-performance e-scooters and e-bikes for urban and personal mobility.

  • Electric Three-Wheelers: Eco-friendly vehicles for cargo and passenger transport.

  • EV Smart Wheelchairs: Advanced, tech-enabled electric wheelchairs for accessibility and healthcare.

  • EV Trikes & E-Cycles: Stable trikes and electric cycles for diverse commuting needs.

  • Contract Manufacturing & OEM Services: End-to-end EV manufacturing solutions for global brands and white-label partners.

  • Fleet & Rental Solutions: Electric vehicle fleets for logistics, rentals and commercial operators.

  • After-Sales Service & Spare Parts: Maintenance, technical support and spare parts for all EV models.

Business Model & Revenue Streams

  • Direct Sales: Sells electric two-wheelers, three-wheelers, trikes and e-cycles directly to consumers (B2C) and businesses (B2B).

  • Contract Manufacturing: Manufactures EVs for global automotive brands, earning revenue through large-scale, high-value production contracts.

  • OEM Services: Provides original equipment manufacturing (OEM) and white-label solutions for other mobility brands, leveraging its advanced facilities.

  • Rental & Fleet Solutions: Offers electric vehicles for fleet operators, logistics companies and rental platforms, creating recurring revenue streams.

  • After-Sales Services: Generates additional income from maintenance, spare parts and technical support for its vehicle portfolio.

Customer Segmentation

  • B2C: Urban and rural consumers seeking affordable, reliable electric mobility solutions.

  • B2B: Fleet operators, logistics firms and institutional buyers requiring bulk EV solutions.

  • Enterprise: International automotive brands (e.g., Acer Electric, Daewoo Motors, WHILL) leveraging Vajram’s contract manufacturing and OEM capabilities.

  • Healthcare & Accessibility: Organizations and individuals seeking advanced electric wheelchairs and mobility aids.

Growth Strategy

  • Capacity Expansion: Ongoing fundraising to expand manufacturing lines, integrate automation and boost output for domestic and global demand.

  • Product Innovation: Continuous R&D investment in new EV models, smart mobility solutions and sustainable production methods.

  • Global Partnerships: Strengthening ties with international brands to become a preferred manufacturing partner worldwide.

  • Market Diversification: Expanding into new geographies and customer segments, including healthcare and accessibility markets.

  • Sustainability Leadership: Commitment to solar-powered, zero-waste and energy-efficient manufacturing for long-term industry leadership.

Key People

Irfan Khan

Hari Kiran

Key Metrics

Total Equity Funding

$1.5 Million

No. of Funding Rounds

1

Latest Funding Round

$1.5 Million, Seed

as of September 14, 2022

Post Money Valuation

$11.6 Million

as of October 23, 2024

Funding Multiple

7.73×

as of October 23, 2024

Investors

Twogrid Technologies

and 1 more

Employee Count

15

Similar Companies

Baaz

Exit Details

-

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
September 14, 2022Seed $1.5 Million$10.4 Million--Nikul Gala & family, Twogrid Technologies

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