This deal happens to be RattanIndia Enterprises first investment in a new age manufacturing business
Announcing its venture into the electric vehicles sector, RattanIndia Enterprises is investing Rs 150 crore in e-bike firm Revolt Intellicorp Pvt Ltd. for a 50 per cent board presence in the company. Revolt Intellicorp will use this partnership to expand its footprint pan India.
This deal happens to be RattanIndia Enterprises first investment in a new age manufacturing business. As part of the deal, Rajiv Rattan will be chairman of the board of Revolt.
Founded by Micromax co-founder Rahul Sharma, Revolt Intellicorp is a next-gen mobility company that has introduced India’s first AI-enabled motorcycle.
Rajiv Rattan, Founder and Chairman of RattanIndia Group, said, “We firmly believe that the speed of adoption of EVs’ in the country will be beyond anybody’s imagination.”
“We are confident that this partnership between RattanIndia and Rahul Sharma will lead to creating the number one EV company in India. At RattanIndia Enterprises, we will continue to invest in high growth tech-enabled new-age businesses.”
Revolt will be deploying the fresh capital to expand the distributor and service network pan-India across 35 cities. In addition to this, the company will be leveraging AI, to upscale and provide a 100 per cent in-house developed – Made in India, world-class contactless experience for its customers.
Speaking about the deal, Rahul Sharma, Founder, Revolt Intellicorp Pvt. Ltd, said, “At Revolt Intellicorp, we are determined at providing better and safer e-mobility solutions to our customers. Despite challenges brought by the pandemic, Revolt India has emerged as a global powerhouse expanding its footprint to 6 cities across India.”
“Our partnership with RattanIndia Enterprise Ltd. complements our vision to offer eco-friendly transportation solutions as well as look forward to expanding our reach to a larger base of customers across top 35 Indian cities.”
