Revolt Intellicorp has raised Rs 150 crore from RattanIndia Enterprises Limited. RattanIndia Group will hold an equity share in the company and Rajiv Rattan will be joining the company as a non-executive chairman on the board. Revolt which was founded by Micromax co-founder Rahul Sharma has been dabbling in electric motorbikes. Revolt’s bikes are highly inspired by Shanghai-based Super Socco’s bikes. These bikes have clocked 18 million kilometres on the road and now with this investment Revolt will expand its footprint pan Indian as well across South Asian markets.
“We are very excited to join hands with Revolt Intellicorp and be a part of the electric mobility shift which is undoubtedly poised to be at the forefront of India’s green revolution. We are upbeat about the future of the sector as well as the product innovations that have come from Revolt Motors to date; with this endeavour, we hope to be a part of the massification of smart, clean and eco-friendly transportation for commuters across the country,” said Rajiv Rattan, founder and chairman of RattanIndia Group.
Revolt has said that it will also be using the capital to expand its distributor and service network to 35 cities. It will also leverage AI, allowing it to update and provide a 100 per cent in-house developed product. This could be a hint at more original designs than the Super Socco inspired ones.
“At Revolt Intellicorp, we are determined at providing better and safer e-mobility solutions to our customers. Despite challenges brought by the pandemic, Revolt Motors has emerged as a global powerhouse expanding its footprint to 6 cities across India. Our partnership with RattanIndia Enterprises Ltd., complements our vision to offer eco-friendly transportation solutions as well as expand our reach to a larger base of customers across top 35 Indian cities,” said Rahul Sharma, founder of Revolt Intellicorp at the announcement.