EV 2-Wheeler Firm Revolt Intellicorp Raises Funding From RattanIndia Group
Revolt Intellicorp, a Gurugram-based EV 2-Wheeler firm, has raised Rs 150 crore in funding from diversified RattanIndia Group (formerly Indiabulls Power).
As part of the deal, RattanIndia Group has bought 43% of Revolt Intellicorp. Also, RattanIndia Enterprises chairman Rajiv Rattan will join Revolt Intellicorp as non-executive chairman as part of the deal.
The transaction was routed through RattanIndia Enterprises, which renamed itself from RattanIndia Infrastructure last month. The firm has moved away from its traditional business to get into new-age ventures.
As per Revolt Intellicorp, it will utilise the funds to expand its reach in India as well as South Asian markets.
Revolt Intellicorp, founded by Micromax co-founder Rahul Sharma, will be leveraging AI to upscale and provide a 100% in-house developed contactless experience for its customers.
Commenting on the development, Rahul Sharma, Founder of Revolt Intellicorp Pvt Ltd, said,
“Our partnership with RattanIndia Enterprise Ltd complements our vision to offer eco-friendly transportation solutions. We look forward to expanding our reach to a larger base of customers across the top 35 Indian cities.”
Presently, Gurugram-based electric two-wheeler maker has a manufacturing facility in Manesar (Haryana) and has a presence in Delhi, Pune, Ahmedabad, Hyderabad and Chennai.
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