Govt. Fund Behind Covaxin Now Backs EV Motorcycle Startup Raptee.HV

Chennai-based electric motorcycle manufacturer Raptee.HV has got an industry-first by securing financial backing from the Technology Development Board (TDB), operating under the Department of Science & Technology, the company has announced. This makes Raptee.HV as the maiden electric vehicle motorcycle original equipment manufacturer (OEM) in India to earn TDB, the Centre's fund that earlier supported Bharat Biotech’s Covaxin financial endorsement.

The newly acquired capital will let Raptee.HV enhance its exclusive high-voltage technology platform while fast-tracking initiatives to penetrate the $1 billion performance electric motorcycle sector, according to company announcement.

"This support from the Technology Development Board is a strong endorsement of Raptee.HV's mission to redefine performance electric mobility, from India, for the world," Dinesh Arjun, CEO & Co-Founder of Raptee.HV, said in an official company statement.

Expanion Of HV Technology

Raptee.HV indicates this governmental backing will facilitate the expansion of their high-voltage (HV) technology -- originally developed for e-automobiles -- and support their growth strategy within the billion-dollar performance e-motorcycle marketplace.

Track Record of Innovation

In 2021, homegrown Raptee.HV became the sole OEM recipient of a ₹3.25 crore non-dilutive grant from ARAI-AMTIF.

With TDB's latest endorsement, Raptee.HV now stands alongside renowned success stories including TATA Indica and Bharat Biotech's Covid-19 vaccine, which previously benefited from TDB support.

"In the absence of an ecosystem for high-voltage motorcycle architecture, we built our own through uncompromising engineering. Earlier, we also received a grant from the Ministry of Heavy Industries through ARAI-AMTIF, and now from TDB, both clear signals of the Government of India's focus on supporting indigenous technological innovation," Arjun added.