Kochi: Indian eMobility start-up, VAAN Electric Moto Private Limited, has got an investment of Rs 6 crore from Asian Energy Services Limited, an oil and gas service company.
Asian Energy Services was attracted to VAAN Electric Private Limited, helmed by a Kochi-based youth, considering the vast opportunities in the e-mobility sector. Asian Energy Services has also expressed interest in more investment to VAAN Electric.
Jithu Sukumaran Nair, who heads the startup said that the company has plans to develop electric charging facility, its services, maintaining e-waste and reproduction. Asian Energy Services is a company listed in BSE and NSE and Oilmax is its main shareholder.
VAAN, which started its operation in 2019, is recognised world-wide as an Indian Life Style E-mobility startup. The company was launched globally at the EICIM Motorcycle Show held at Italy in November 2021. The e-cycles of VAAN will be launched in India this month.
The products of VAAN include e-bike, e-moped, e-scooter and e-boat. The branding of the company is being done by KISKA, an Austria-based firm under KTM. VAAN is recognised by Startup India and Kerala Startup Mission.
Jithu Sukumaran Nair said that the new investment will help the company to grow as an international brand. The investment will be used for developing new products and expanding the company to various sectors, he said.
VAAN already has a technical collaboration with the world-renowned bike manufacturer Benelli. Apart from the launch of e-cycle this month, e-bikes, super bikes for children and dresses will also be introduced.
The company focusses on producing environmentally sustainable products along with implementing scientifically developed products. The company also ensures sustainable energy and recycling of products.