Company lists
The West Bengal edition · 2026

Electric vehiclescompanies in West Bengal

Scooters & bikes, e-rickshaws & commercial, charging, batteries, rentals and more: the companies building electric vehicles in West Bengal, with their founders, funding, team size and business models.

48 company profiles16 with reported revenue3 with recorded fundingOctober 2026 edition
West Bengal · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent electric vehicles business events in India

Funding, M&A, contract wins and launches involving 2,153 electric vehicles companies in India, last 24 months: 111 funding rounds · 72 Contracts · 62 launches · 43 M&A deals. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

FundingInvestment

Olectra greentech

OLECTRA GREENTECH is lining up a fresh investment of nearly ₹700 crore as it looks to deepen localisation, expand its electric bus and truck portfolio.

Electric commercial vehicle
FundingSeries A

Tiea connectors

Tiea Connectors also stood out with Rs. 77 crore in Series A funding led by IvyCap Ventures. Jamwant Ventures, 8X Ventures and HNI angel investors also joined the round.

Investors Ivycap ventures, Jamwant Ventures, 8x ventures, HNI angel investors
High-performance connectors / deeptech
FundingQualified Institutions Placement

Ola electric

Ola Electric Mobility Limited announced today, June 1, 2026, that its Fund Raising Committee has approved the opening of a qualified institutions placement of equity shares.

M&AAcquisition · Announced

Kpit acquires Cymotive

KPIT to acquire majority stake Israeli cyber security company Cymotive

Cyber security
M&AAcquisition · Announced

Kpit technologies acquires Maj Jorites Tech

KPIT Technologies announced on Wednesday that it is acquiring Maj Jorites Tech from Israeli firm Symotive to strengthen its capabilities in AI-based automotive cybersecurity.

AI-based automotive cybersecurity
Funding

River

Electric vehicle startup River is in talks to raise approximately $100 million in fresh funding, marking its largest capital infusion since its founding in 2021.

Investors Anicut capital, Claypond Capital, Elev8 venture partners
Electric Vehicle
FundingDebt financing

Battery smart

Battery Smart, India's leading EV battery swapping provider, has raised $15 million in debt financing. The funding round was led by Mirova, a French asset management firm focused on…

Investors Mirova
EV battery swapping
ContractSupply

Emni · client: Advantex Battery

EMNI announced on April 21 that it has signed a lithium‑ion cell supply contract ... with ADVANTEX Battery.

Battery
Funding

Sarla Aviation

Sarla Aviation and IndiGo have announced a strategic equity investment of ₹10 crore by IndiGo Ventures in Sarla Aviation.

Investors IndiGo Ventures
EVTOL, Urban Air Mobility
ContractSupply

Citroën · client: Cab-e

Citroën has signed a Memorandum of Understanding (MoU) with urban e-mobility firm Cab-E, to introduce over 2000 Citroën ë-C3 EVs in Cab-E’s fleet in the Mumbai and Pune region, this year.

Contract

Ashok leyland · client: Switch mobility

Ashok Leyland is also expected to invest up to $ 200 million (Rs 1,480 crore) in Switch Mobility of which $ 130 million (Rs 962 crore) has already been invested in the entity.

E-mobility
LaunchOtua

Dandera ventures

EV start-up Dandera Ventures today launched Otua, an electric three-wheeler designed for cargo transportation.

Electric three-wheeler
LaunchHiLoad EV

Euler motors

Electric commercial vehicle company Euler Motors today launched its first cargo three-wheeler, the HiLoad EV.

Electric commercial vehicle
Launch

Bijliride

Bijliride has introduced a software-as-a-service platform designed to help enterprises manage electric vehicle fleets, marking the startup's expansion into B2B technology solutions.

Fleet management
LaunchGreaves Eltra cargo e-three-wheeler

Greaves electric mobility

Greaves Electric Mobility has launched its latest three-wheeler, the Greaves Eltra cargo model targeted at last-mile logistics providers.

LaunchELCV

E-Trio

Telengana-based electric vehicle start-up e-Trio today launched India’s first certified retrofitted electric light commercial vehicle (eLCV).

Electric Light Commercial Vehicle
LaunchKinetic DX

Kinetic group

The launch of the Kinetic DX in the two‑wheeler EV segment is the most visible marker of this shift.

Two‑wheeler EV
ContractSupply

Olectra greentech · client: Brihan Mumbai Electric Supply & Transport Undertaking (BEST)

Olectra Greentech Ltd has been awarded a contract from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for supply of 2,400 electric buses.

Funding

Euler motors

Last month, electric commercial vehicle maker Euler Motors also raised ₹437.5 Cr in a round led by Lightrock, with participation from existing investors Hero MotoCorp and Blume Ventures.

M&AAcquisition · Announced

Tube Investments acquires Infraprime logistics technologies

Murugappa Group engineering company Tube investments of India acquired 65.2% stake in InfraPrime Logistics Technologies (IPLTech), a heavy-duty electric vehicle (EV) manufacturing…

Heavy-duty electric vehicle manufacturing startup
FundingSeries A

Bacancy Systems

Engineering startup Bacancy Systems raised $4.31 million in a Series A round.

Engineering
ContractGovernment

SCharge · client: Technology Development Board

the government body entered an agreement with Scharge Private Limited to develop a next‑generation electric vehicle charging solution for commercial fleet and depot operations under the…

Industrial sustainability, EV charging infrastructure
ContractInfrastructure

Dhabriya polywood · client: Indian Company

Dhabriya Polywood has received the work order worth Rs 34.81 crore (including GST) from Indian Company for Aluminium doors-windows & facade works.

Infrastructure
LaunchAther 450 series

Ather energy

With the Ather 450 series, the Bengaluru-based startup introduced connected dashboards, over-the-air updates, fast charging networks, and smart diagnostics.

Electric scooter
LaunchS1 range

Ola electric

Its S1 range brought electric scooters into mainstream discussion, combining design, performance, and app-based controls.

Electric scooter
FundingSeries A

Bacancy Systems

Bacancy Systems has raised ₹400 million in a Series A funding round led by Sabre Partners and Greenstone Capital, with both investors acquiring minority stakes through primary…

Embedded electronics and power systems for electric vehicles and railway applications
LaunchUV Space Station

Ultraviolette automotive

Ultraviolette Automotive announced the launch of a new UV Space Station in Nagpur, a significant step in expanding its retail and service network across emerging mobility markets in India.

Retail and Service Center
Funding

Pmi Electro Mobility

"KKR has made an investment of $310 million in PMI Electro Mobility, a manufacturer of e-buses); and Allfleet, a subsidiary of PMI that owns and operates e-bus concessions."

Investors Kkr
Electric commercial vehicle manufacturer
Funding

Ecofy

Ecofy, an NBFC focused on financing climate change solutions, raised Rs 380.5 crore ($41 million approx,) from BII and DAIF.

Investors Bii, DAIF
FinTech

Electric vehicles companies in West Bengal, by funding and team

Few electric vehicles companies in West Bengal publish revenue, so this list compares what is on record instead: recorded equity funding, team size, revenue model, age and stage. The 48 companies below lead on recorded funding and team size among 48 active companies.

Showing 25 of 48

Manufacturer of electric rickshaws, autos, cargo vehicles, and charging solutions

Electric vehicles
US$10.00mSeries A · May 2018
285+27% 12 mo to Sep 2024LinkedIn · Jul 2026
Commission on transaction / Fee-for-service
16 yr2010
0none in 3 months

Manufacturer of electric scooters, electric cycles, and electric mopeds

Electric vehicles
US$1.92mSeed · Oct 2022
323+22% 12 mo to Jul 2024LinkedIn · Jul 2026
E-commerce - product / Physical commerce
7 yr2019
0none in 3 months

Battery management platform for electric vehicles

Electric vehicles
US$902kSeed · Apr 2024
145+347% 12 mo to Jul 2024LinkedIn · Jul 2026
Commission on transaction / E-commerce - service
7 yr2019
4postings · last posted Oct 2026

Manufacturer of electric rickshaws

Electric vehicles
—None recorded
47+8% 12 mo to Sep 2024LinkedIn · Oct 2026
Physical commerce
16 yr2010
1postings · last posted Sep 2026

Manufacturer of electric commercial tricycles

Electric vehicles
—None recorded
23+42% 12 mo to Sep 2024LinkedIn · Jul 2026
E-commerce - product / Physical commerce
13 yr2013
0none in 3 months

Developer of electric three-wheeled utility vehicles or loaders

Electric vehicles
—None recorded
110+14% 12 mo to Sep 2024LinkedIn · Jul 2026
Physical commerce
17 yr2009
0none in 3 months · last posted Jul 2026

Manufacturer of multiple categories of electric vehicles

Electric vehicles
—None recorded
34+8% 12 mo to Sep 2024LinkedIn · Jul 2026
E-commerce - product / Physical commerce
15 yr2011
0none in 3 months · last posted Jul 2026

Operator of transportation network, connecting riders with independent drivers

Electric vehicles
—None recorded
116+0% vs previous recordLinkedIn · Jul 2026
Advertising / Affiliate marketing
12 yr2014
—No postings tracked

E-Rickshaw Manufacturing Company-GK RICKSHAW

Electric vehicles
—None recorded
26+76% 12 mo to Jul 2024LinkedIn · Oct 2026
E-commerce - product / Physical commerce
12 yr2014
0none in 3 months

Online electric scooter rental platform in Kolkata

Road transport tech
—None recorded
7LinkedIn · Jul 2026
Commission on transaction / Renting / leasing
10 yr2016
0none in 3 months

Platform offering lithium-ion batteries for mobility and energy storage systems

Electric vehicles
—None recorded
17LinkedIn · Jul 2026
Physical commerce
6 yr2020
0none in 3 months

Solar-powered EV and charging equipment provider

Energy storage tech
—None recorded
1LinkedIn · Jul 2026
E-commerce - product / Physical commerce
8 yr2018
0none in 3 months

Manufacturer of electric cargo vehicles

Electric vehicles
—None recorded
118LinkedIn · Jul 2026
E-commerce - product / Physical commerce
5 yr2021
0none in 3 months · last posted Mar 2026

Manufacturer of EV chargers

Energy storage tech
—None recorded
3LinkedIn · Jul 2026
Physical commerce
5 yr2021
0none in 3 months

Electric tricycle manufacturer

Electric vehicles
—None recorded
—Not available
Advertising / Commission on transaction
19 yr2007
0none in 3 months

Provider of electric vehicle fleets, charging, and management platform services

Electric vehicles
—None recorded
—Not available
Subscription
2 yr2024
—No postings tracked

Manufacturer of electric three-wheelers

Electric vehicles
—None recorded
—Not available
E-commerce - product / Physical commerce
5 yr2021
—No postings tracked

Provider of electric vehicle charging stations

Electric vehicles
—None recorded
1LinkedIn · Jul 2026
Physical commerce / Subscription
4 yr2022
0none in 3 months

Electric rickshaw manufacturer & supplier

Electric vehicles
—None recorded
—Not available
E-commerce - product / Physical commerce
9 yr2017
—No postings tracked

Developer of electric bicycles

Electric vehicles
—None recorded
—Not available
Physical commerce
6 yr2020
—No postings tracked

Provider of Lithium based energy solutions and battery technologies

Electric vehicles
—None recorded
—Not available
Commission on transaction / Renting / leasing
5 yr2021
—No postings tracked

Operator of electric vehicle charging station

Electric vehicles
—None recorded
—Not available
Commission on transaction / E-commerce - product
5 yr2021
0none in 3 months

Provider of a rental platform for electric kick-scooters, bicycles and scooters

Electric vehicles
—None recorded
3LinkedIn · Jul 2026
Commission on transaction / Subscription
8 yr2018
0none in 3 months

Manufacturer of electric scooters

Electric vehicles
—None recorded
22LinkedIn · Jul 2026
E-commerce - product / Physical commerce
6 yr2020
0none in 3 months

Manufacturer of electric rickshaws

Electric vehicles
—None recorded
—Not available
E-commerce - product / Physical commerce
9 yr2017
0none in 3 months
48 of 48 companies shown here · the full list is on Radar
Fliar Radar

Explore all 48 electric vehicles companies in West Bengal on Radar

This page shows the top 48. Radar has the complete, filterable list with contacts and live company signals.

Open electric vehicles in West Bengal on Radar
  • Every company, not just 50All 48 electric vehicles companies in West Bengal, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore electric vehicles companies in West Bengal by what you are looking for

Discover electric vehicles companies in West Bengal, including electric scooter and e-rickshaw makers, EV charging providers and battery suppliers. See electric vehicle startups in West Bengal and the top electric vehicles manufacturers in the state.

7 ways to explore electric vehicles in West Bengal

Electric scooter, bike & two-wheeler makersE-rickshaw & electric commercial vehicle manufacturersEV charging stations & chargersEV battery & energy storage companiesElectric vehicle rentals & mobility servicesElectric vehicles startups in West Bengal

Electric scooter, bike & two-wheeler makers

Manufacturers of electric scooters, motorcycles and cycles.

  1. Ketron Electric Vehicles

    Manufacturer of electric scooters

    Electric vehicles
    See in list
  2. Horsemen Motors

    Manufacturer of self-charging electric motorcycles for transportation and personal mobility

    Electric vehicles
    See in list
  3. Project SR

    Manufacturer of e-bikes and off-road motorcycles

    Electric vehicles
    See in list
  4. Dabadigo

    Online electric scooter rental platform in Kolkata

    Road transport tech
    See in list
  5. PedalsGo

    Provider of a rental platform for electric kick-scooters, bicycles and scooters

    Electric vehicles
    See in list

E-rickshaw & electric commercial vehicle manufacturers

Makers of electric rickshaws, autos, loaders and light commercial vehicles.

  1. Indo Wagen

    Manufacturer of electric commercial tricycles

    Electric vehicles
    See in list
  2. Terra Motors

    Manufacturer of electric rickshaws, autos, cargo vehicles, and charging solutions

    Electric vehicles
    See in list
  3. GK Rickshaw

    E-Rickshaw Manufacturing Company-GK RICKSHAW

    Electric vehicles
    See in list
  4. Plaudit Techno India

    Electric tricycle manufacturer

    Electric vehicles
    See in list
  5. Tuk World

    Operator of transportation network, connecting riders with independent drivers

    Electric vehicles
    See in list

EV charging stations & chargers

Providers of electric vehicle charging stations, chargers and charging networks.

  1. C & N Green Energy

    Manufacturer of EV chargers

    Energy storage tech
    See in list
  2. GrnLYFT

    Provider of electric vehicle fleets, charging, and management platform services

    Electric vehicles
    See in list
  3. Breath Blue

    Online platform offering EV charging solutions and infrastructure services

    Electric vehicles
    See in list
  4. Resolzpower

    Solar-powered EV and charging equipment provider

    Energy storage tech
    See in list
  5. Dabadigo

    Online electric scooter rental platform in Kolkata

    Road transport tech
    See in list

EV battery & energy storage companies

Lithium-ion battery and energy storage suppliers for electric mobility.

  1. Advantex Battery

    Platform offering lithium-ion batteries for mobility and energy storage systems

    Electric vehicles
    See in list
  2. Resolzpower

    Solar-powered EV and charging equipment provider

    Energy storage tech
    See in list
  3. VoltBee

    Provider of Lithium based energy solutions and battery technologies

    Electric vehicles
    See in list
  4. Pointo

    Battery management platform for electric vehicles

    Electric vehicles
    See in list
  5. C & N Green Energy

    Manufacturer of EV chargers

    Energy storage tech
    See in list

Electric vehicle rentals & mobility services

Rental and ride platforms offering electric scooters, bicycles and shuttles.

  1. Dabadigo

    Online electric scooter rental platform in Kolkata

    Road transport tech
    See in list
  2. PedalsGo

    Provider of a rental platform for electric kick-scooters, bicycles and scooters

    Electric vehicles
    See in list
  3. evtalks

    EVTalks is a platform for discussing everything related to the EV industry.

    Electric vehicles
    See in list
  4. GrnLYFT

    Provider of electric vehicle fleets, charging, and management platform services

    Electric vehicles
    See in list
  5. Speedigo

    Manufacturer of electric shuttles

    Electric vehicles
    See in list

Electric vehicles startups in West Bengal

Newer electric vehicle companies founded in recent years.

  1. Jupiter Electric Mobility

    Manufacturer of electric cargo vehicles

    Electric vehicles
    See in list
  2. GrnLYFT

    Provider of electric vehicle fleets, charging, and management platform services

    Electric vehicles
    See in list
  3. Shaktimaan e Rickshaw

    Manufacturer of electric three-wheelers

    Electric vehicles
    See in list
  4. VoltBee

    Provider of Lithium based energy solutions and battery technologies

    Electric vehicles
    See in list
  5. Anant E-Rickshaw

    Manufacturer of electric scooters

    Electric vehicles
    See in list
8 companies in West Bengal

Electric vehicles companies hiring in West Bengal

Electric vehicle companies that currently have open roles.

  1. Hooghly Motors

    Manufacturer of electric rickshaws

    Electric vehicles
    See in list
  2. Big Bull E-rickshaw

    Developer of electric three-wheeled utility vehicles or loaders

    Electric vehicles
    See in list
  3. Pointo

    Battery management platform for electric vehicles

    Electric vehicles
    See in list
  4. Jaidka Power Systems

    Manufacturer of multiple categories of electric vehicles

    Electric vehicles
    See in list
4 companies in West Bengal
Mobile reach

Top 5 electric vehicles apps from West Bengal

The most-installed Android apps published by electric vehicles companies headquartered in West Bengal — 48K installs between them. 5 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 5
2

Pointo Pilot

by Pointo

Installs18K
Rating—
Last updatedMay 2026
View on Google Play ↗
Pointo Pilot screenshot 1Pointo Pilot screenshot 2Pointo Pilot screenshot 3Pointo Pilot screenshot 4Pointo Pilot screenshot 5Pointo Pilot screenshot 6
3

Breath Blue

by Breath Blue

Installs1K
Rating—
Last updatedMay 2024
View on Google Play ↗
Breath Blue screenshot 1Breath Blue screenshot 2Breath Blue screenshot 3Breath Blue screenshot 4Breath Blue screenshot 5Breath Blue screenshot 6
5

ERO EV

by EroEV

Installs43
Rating—
Last updatedJun 2025
View on Google Play ↗
ERO EV screenshot 1ERO EV screenshot 2ERO EV screenshot 3ERO EV screenshot 4
The business behind the activity

Electric vehicles financials in West Bengal

Revenue, profit and growth from the filed annual accounts of 15 electric vehicles companies in West Bengal for FY24-25 — 20 of the 48 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 88% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹784.43 cr

15 companies filing accounts

combined net profit−₹16.46 cr

-2.1% aggregate margin

are profitable57%

8 of 15 companies

median revenue~₹25.6 cr

the typical company

median revenue growth+7%

into FY24-25

earned by the top five88%

revenue concentration

Six-year view

Combined revenue of filing companies

₹314.17 crFY19-2011 filers
₹243.49 crFY20-2111 filers
₹439.96 crFY21-2214 filers
₹723.88 crFY22-2315 filers
₹817.10 crFY23-2416 filers
₹784.43 crFY24-2515 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 12 companies over three years

+26%
FY22-23₹621.88 cr−₹2.27 cr net
FY23-24₹702.21 cr₹12.25 cr net
FY24-25₹784.10 cr−₹7.97 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr633% profitable
₹1–10 cr1100% profitable
₹10–100 cr450% profitable
₹100–1,000 cr475% profitable
Over ₹1,000 cr0—

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking5
0–20%3
20–50%1
50–100%1
Doubled+3

13 companies with accounts for both years; median growth +7%.

Profitability

Profit is concentrated at the top

8profitable
6loss-making
-2.1%aggregate margin
0.6%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
PointoP2G MOBILTY TECH PRIVATE LIMITED+748%₹29.98 cr
MotovoltMOTOVOLT MOBILITY PRIVATE LIMITED+50%₹32.22 cr
Indo WagenZENIAK INNOVATION INDIA LIMITED+31%₹243.16 cr
Hooghly MotorsHOOGHLY MOTORS PRIVATE LIMITED+16%₹150.73 cr
Jaidka Power SystemsJAIDKA POWER SYSTEMS PRIVATE LIMITED+7%₹25.56 cr
Big Bull E-rickshawBIG BULL TRADER PRIVATE LIMITED+7%₹110.86 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Hooghly MotorsHOOGHLY MOTORS PRIVATE LIMITED7.9%₹150.73 cr
Ketron Electric VehiclesKETRON ELECTRIC VEHICLES PRIVATE LIMITED7.2%₹27.33 cr
Big Bull E-rickshawBIG BULL TRADER PRIVATE LIMITED4.3%₹110.86 cr
Indo WagenZENIAK INNOVATION INDIA LIMITED2.8%₹243.16 cr
Jaidka Power SystemsJAIDKA POWER SYSTEMS PRIVATE LIMITED0.5%₹25.56 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Electric vehicles12₹783.35 cr~₹28.7 cr64%-2.1%
Leaders

Largest electric vehicles companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Indo WagenZENIAK INNOVATION INDIA LIMITED₹243.16 cr₹6.93 cr2.8%+31%
Terra MotorsTERRA MOTORS INDIA PRIVATE LIMITED₹153.97 cr−₹7.77 cr-5.0%-6%
Hooghly MotorsHOOGHLY MOTORS PRIVATE LIMITED₹150.73 cr₹11.95 cr7.9%+16%
Big Bull E-rickshawBIG BULL TRADER PRIVATE LIMITED₹110.86 cr₹4.76 cr4.3%+7%
MotovoltMOTOVOLT MOBILITY PRIVATE LIMITED₹32.22 cr−₹25.73 cr-79.9%+50%
PointoP2G MOBILTY TECH PRIVATE LIMITED₹29.98 cr——+748%
Ketron Electric VehiclesKETRON ELECTRIC VEHICLES PRIVATE LIMITED₹27.33 cr₹1.97 cr7.2%-50%
Jaidka Power SystemsJAIDKA POWER SYSTEMS PRIVATE LIMITED₹25.56 cr₹12.51 lakh0.5%+7%
EeveeEEVEE ENGINEERING PRIVATE LIMITED₹9.20 cr₹12.39 lakh1.3%-32%
DabadigoASTREA GREENTECH PRIVATE LIMITED₹59.61 lakh−₹15.88 lakh-26.6%-1%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Electric Vehicles Industry Landscape of India

The financials above are one chapter. The full electric vehicles landscape of West Bengal maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the electric vehicles landscape of West Bengal
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Electric vehicles funding and M&A across India

989 recorded equity rounds have gone to 2,153 electric vehicles companies in India — how much, at which stage, into which sub-sectors, from whom, and how West Bengal compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months38

US$377.01m

equity rounds, last 24 months154

US$1.96bn

raised over five yearsUS$6.64bn

732 rounds in India

M&A deals, India43

last 24 months

Capital by year

Equity funding into electric vehicles in India

amount rounds
$198m201843
$581m201969
$219m202066
$656m2021141
$1.9bn2022175
$1.5bn2023143
$720m2024148
$1.6bn2025104
$276m202621

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2022, with US$1.92bn across 175 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$44.65m123 rounds · median US$122k
SeedUS$565.05m385 rounds · median US$487k
Series AUS$1.19bn133 rounds · median US$5.92m
Series BUS$1.03bn48 rounds · median US$15.00m
Series CUS$820.57m18 rounds · median US$29.19m
Series D+US$2.85bn23 rounds · median US$48.91m
Private equityUS$144.81m2 rounds · median US$144.81m
Where the money went · five years

Most-funded sub-sectors

Electric vehiclesUS$5.50bn455 rounds · 172 companies
Energy storage techUS$370.79m98 rounds · 41 companies
Road transport techUS$321.68m51 rounds · 15 companies
Alternative lendingUS$120.90m13 rounds · 7 companies
Logistics techUS$98.08m13 rounds · 4 companies
Smart citiesUS$44.35m4 rounds · 2 companies
Auto e-commerce & contentUS$44.33m21 rounds · 5 companies
Corporate activity · last 24 months

M&A in India

40Acquisition
2Merger
1Completed

Most active acquirers

  1. Kpit technologies16
  2. Jupiter Electric Mobility4
  3. A-1 Ltd3
  4. Blusmart2
  5. Tube Investments1

Most acquired or merged

  1. A-1 sureja industries3
  2. Ather energy2
  3. Caresoft2
  4. Euler motors2
  5. Greenfuel energy solutions2

Each deal appears in the events strip at the top of the page.

Go deeper in the electric vehicles landscape reports:

Electric Vehicles Industry Landscape of India

Founders and momentum in West Bengal

Meet the people behind electric vehicles companies in West Bengal. 21 of 48 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore West Bengal electric vehicles companies by sub-sector

The most common specialisations among electric vehicles companies in West Bengal. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring electric vehicles in India and nearby markets.

Coming soon