About 22Motors
22Motors is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2016 by Vijay Chandrawat and Parveen Kharb, and was acquired by Bounce in October 2021. Electric scooters with smart features are developed by 22Motors. 22Motors has raised $86.33 million across 3 funding rounds from investors including KYMCO, Ishwar Singh and Farhaan Shabbir. The company has 73 employees. 22Motors was last valued at $7.72 million in April 2017. Its chief executive, as recorded, is Parveen Kharb. The company was acqui-hired. Its focus areas include Energy Tech, Electric Vehicles, Automaker and Two Wheelers. Its legal entity in India is Bounce Electric 1 Private Limited (U34300HR2016PTC065380). Its competitors include Ola Electric, Ather Energy and Hero Electric; 3 of its 3 listed competitors have raised funding.
Company details
Twenty Two Motors is an Indian automaker that develops markets electric scooters. Offers Flow, an electric scooter designed for Indian road conditions. The scooter comes in multiple variants with options of choosing up to 2 removable battery packets which are chargeable with standard 5 Amp sockets and provides a range of up to 80kms per battery. The scooter also incorporates features such as combined disk braking with regenerative (KERS) capabilities, tubeless tires, Bluetooth connectivity, quick charging, and more. Additionally, the vehicle also incorporates AI functionalities and provides an integrated mobile app with features such as geo-fencing, battery usage analytics, driver behavior monitoring, daily route alerts, remote diagnostics, and fleet management.
- Headquarters Gurugram, India
- Employees 73
- Founders Vijay Chandrawat, Parveen Kharb
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website 22motors.in
- Social LinkedIn
- Acquired by Bounce (Oct 2021)
- Legal Name Bounce Electric 1 Private Limited
- Date of Incorporation 11 Aug, 2016
- Jurisdiction Gurugram, Haryana, India
Associated legal entities of 22Motors
22Motors operates through Bounce Electric 1 Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2021) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Bounce Electric 1 Private Limited CIN U34300HR2016PTC065380 | Active | 11 Aug 2016 | Gurgaon, Haryana | ₹0.0 Cr | 73 | 2 | View details |
Funding Insights of 22Motors
22Motors has successfully raised a total of $86.33M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $19.75 million completed in October 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $86.33M
- Total Rounds 3
- Last Round Series A — $19.75M
- First Round $1.59M
(Apr 2017)
- Investors Count 3
All 3 funding rounds of 22Motors with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2019 | $19.75M | Series A | – | – | – |
| Oct 2018 | $65M | Series C | – | KYMCO | – |
| Apr 2017 | $1.59M | Angel Round | $7.72M | Ishwar Singh |
| Date | Valuation | Stage |
|---|---|---|
| Apr 2017 | $7.72M | •••••••• |
Last known valuation $7.72M (Apr 2017). 4 investors in total: 2 institutional and 2 angel.
Investors in 22Motors
22Motors has secured backing from 4 investors, including institutional and angel investors. Prominent investors backing the company include KYMCO, Ishwar Singh and Farhaan Shabbir.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Multi-category electric vehicles are developed by KYMCO. | kymco.com | Kaohsiung City, Taiwan | ||
IS Ishwar Singh | unknown_a05507f710b047bca | |||
FS Farhaan Shabbir | Angel investor and entrepreneur, co-founder of Fashor, focused on fashion tech | unknown_f3864cbcbef740199 | ||
Bounce Infinity is engaged in manufacturing electric scooters for Indian roads. | bounceshare.com | Haryana, India |
Investor details for 22Motors
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Board of directors of Bounce Electric 1 Private Limited (22Motors)
Bounce Electric 1 Private Limited is the primary company behind 22Motors. The board of Bounce Electric 1 Private Limited currently have 2 directors; the longest-serving is Giri Raju Anil, appointed in 2021. 6 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Giri Raju Anil DIN 06778528 | Director | 20 Aug 2021 | 5 yrs 2 mo | Bounce Electric 1 Private Limited |
| Hassan Ramakrishna Vivekananda DIN 07144190 | Director | 20 Aug 2021 | 5 yrs 2 mo | Bounce Electric 1 Private Limited |
People of 22Motors
2 people are tracked at 22Motors (2 in leadership); the tracked headcount is 73.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder & CEO | Leadership |
Complete people profiles for 22Motors
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Financials of 22Motors
Figures of Bounce Electric 1 Private Limited, the primary company behind 22Motors, for FY 2021. Net loss was -₹65.2 Lakh (-326201150% margin). EBITDA was -₹62.8 Lakh (-314117500% margin). Revenue has grown at a compounded annual rate of -98% over three years.
- -₹65.2 LakhNet loss · -326201150% margin
- -₹62.8 LakhEBITDA · -314117500% margin
- ₹85.7 LakhPaid-up capital
- 73Employees (provident fund records)
- -98%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Bounce Electric 1 Private Limited are on its company page.
Detailed financial statements for 22Motors
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of 22Motors
5 dated milestones of 22Motors across 5 years, from founding to its latest funding, stage changes and deals.
- Founded 22Motors is founded.
- Funding First funding round of $1.6M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $19.7M.
- Exit Acquired by Bounce.
Competitors of 22Motors
22Motors has 3 listed competitors in our database, 3 of them funded. They include Ola Electric, Ather Energy and Hero Electric.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| olaelectric.com | 2017 | Bengaluru, India | $999.91M | 3,520 | Electric scooters and motorcycles are manufactured with related accessories. | |
| atherenergy.com | 2013 | Bengaluru, India | $502.02M | 1,755 | Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | |
| heroelectric.in | 2007 | Gurugram, India | $129.6M | 122 | Manufacturer offering electric scooters and mobility solutions |
Detailed competitors of 22Motors
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Top companies in Electric & Green Mobility
3 companies that operate in the same segment as 22Motors (Electric & Green Mobility) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | |||
Shared electric two-wheelers are rented via an online platform. | 2017 | Bengaluru, Karnataka, India | USD 187.54 M | USD 37.93 M | 401 | |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | 2013 | Bengaluru, Karnataka, India | USD 502.02 M | USD 391.37 M | 1,917 |
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Related news about 22Motors
Complete news archive for 22Motors
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Frequently Asked Questions about 22Motors
22Motors was founded in 2016 and raised its 1st funding round 1 year after it was founded.
22Motors is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Parveen Kharb is the CEO of 22Motors, as recorded in our data. They have also founded this company.
22Motors is a funded company, having raised a total of $86.33M across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $1.59M, raised on Apr 2017.
22Motors has 73 employees.
Annual revenue of 22Motors is $0.03 as on Mar 31, 2021.
Twenty Two Motors is an Indian automaker that develops markets electric scooters. Offers Flow, an electric scooter designed for Indian road conditions. The scooter comes in multiple variants with options of choosing up to 2 removable battery packets which are chargeable with standard 5 Amp sockets and provides a range of up to 80kms per battery. The scooter also incorporates features such as combined disk braking with regenerative (KERS) capabilities, tubeless tires, Bluetooth connectivity, quick charging, and more. Additionally, the vehicle also incorporates AI functionalities and provides an integrated mobile app with features such as geo-fencing, battery usage analytics, driver behavior monitoring, daily route alerts, remote diagnostics, and fleet management.
22Motors's top competitors include Ather Energy, Ola Electric and Hero Electric.
22Motors has 4 investors. Key investors include KYMCO, Ishwar Singh, Farhaan Shabbir, and Bounce Infinity.
The valuation of 22Motors is $7.72M as of Apr 2017.
22Motors operates through Bounce Electric 1 Private Limited.
Yes. 22Motors was acquired by Bounce in October 2021.