7 EV startups are changing the game: Funding revealed

By Abhishek G

April 3, 2024

Aided by supportive government policies, several electric vehicle startups have grown exponentially in India. Here are some of them:

BluSmart offers electric vehicle ride-hailing service with its headquarters in Gurugram, India.


Funding: $118 Million

Undeniably, the most popular electric scooter brand in India, Ola Electric was formed by Bhavish Aggarwal in 2017.

Ola Electric

Funding: $1 Billion

Headquartered in Bengaluru, Ather Energy was formed in 2013 by Tarun Mehta and Swapnil Jain. offers reliable electric scooters.

Ather Energy

Funding: $445 Million

Ultraviolette is a Bangalore-based startup formed in 2016. It is involved in the manufacturing of advanced and efficient electric bikes.


Funding: $64.1 Million

Log9 Materials is among India’s few startups working on efficient battery technology. Log9 was formed in 2015 with its headquarters in Bengaluru.

Log9 Materials

Funding: $89.7 Million

Yulu is an App-based self booking electric bike rental platform. Users can locate nearby e-bikes, scan QR, and rent the cycle through the app itself. 


Funding: $89.7 Million

Magenta is an EV charging station software startup offering SaaS solutions for Charge Point Operators (CPOs).


Funding: $56.2 Milion

Tata Nano in electric avatar