About Hero Electric
Hero Electric is a Transportation, Automotive & Logistics company based in Gurugram (India) founded in 2007 by Vijay Munjal. Manufacturer offering electric scooters and mobility solutions. Hero Electric has raised $129.6 million across 9 funding rounds from investors including SunPower, Klub and Foodlink. The company has 342 employees. Hero Electric was last valued at $198.93 million in June 2023. Its chief executive, as recorded, is Sohinder Singh Gill. Its Indian entity Hero Electric Vehicles Private Limited reported revenue of ₹994 Cr. Its focus areas include Energy Tech, Electric Vehicles, Automaker and Two Wheelers. Its competitors include Ola Electric, Ather Energy and River; 3 of its 3 listed competitors have raised funding.
Company details
Hero Electric was founded in 2007 and is based in Gurugram, India. Operations are centered in the electric vehicle sector, where zero-emission two-wheelers are developed for efficient urban transportation. The full production process is managed, encompassing component design, assembly, and manufacturing of mobility solutions. Focus is placed on sustainable alternatives to traditional vehicles in the Indian market.
- Headquarters Gurugram, India
- Employees 342
- Founders Vijay Munjal
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Website category Vehicles · Motorcycles
- Website heroelectric.in
- Social LinkedIn X Facebook
- Legal Name Hero Electric Vehicles Private Limited
- Date of Incorporation 31 Jul, 2010
- Jurisdiction New Delhi, Delhi, India
- Annual Revenue₹994 Cr
FY 2023 · +17% YoY
- Net Loss-₹117 Cr
FY 2023 · -12% margin
- EBITDA-₹114 Cr
FY 2023 · -11% margin
- Total Equity Funding$129.6M (USD)
in 9 rounds
- Latest Funding Round$26.62M (USD), Series B
Jun 2023
- InvestorsSunPower
& 55 more
- Employee Count342
Associated legal entities of Hero Electric
Hero Electric operates through Hero Electric Vehicles Private Limited (under cirp). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Hero Electric Vehicles Private Limited CIN U34200DL2010PTC206520 | Under Cirp | 31 Jul 2010 | New Delhi, Delhi | ₹994 Cr | 342 | 2 | View details |
Funding Insights of Hero Electric
Hero Electric has successfully raised a total of $129.6M across 9 strategic funding rounds. The most recent funding activity was a Series B round of $26.62 million completed in June 2023. 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 $129.6M
- Total Rounds 9
- Last Round Series B — $26.62M
- First Round $2.2M
(Mar 2013)
- Investors Count 56
All 9 funding rounds of Hero Electric 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 |
|---|---|---|---|---|---|
| Jun 2023 | $26.62M | Series B | $198.93M | Wafi Investment, Heroecotech | – |
| Jun 2022 | Series B | – | Klub | – | |
| Jul 2021 | $30.09M | Series B | $167.38M | Vocean | |
| Jun 2021 | $30.09M | Series B | – | Gulf Islamic Investments | |
| Jan 2021 | $667,887 | Series A | $••••• | Innovative Quest | – |
| Oct 2019 | Series A | – | – | – | |
| Apr 2019 | $3.99M | Series A | $••••• | SLK Software | |
| Nov 2018 | $35.93M | Series A | $••••• | – | |
| Mar 2013 | $2.2M | Seed | $••••• | Munjal Investment |
| Date | Valuation | Stage |
|---|---|---|
| Jun 2023 | $198.93M | •••••••• |
| Jul 2021 | $167.38M | •••••••• |
| Jan 2021 | $••••• | •••••••• |
| Apr 2019 | $••••• | •••••••• |
| Nov 2018 | $••••• | •••••••• |
| Mar 2013 | $••••• | •••••••• |
Full valuation and stage history of Hero Electric
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
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Verified entity values are shown only after access is granted.
Last known valuation $198.93M (Jun 2023). 56 investors in total: 52 institutional and 4 angel.
Investors in Hero Electric
Hero Electric has secured backing from 56 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include SunPower, Klub and Foodlink.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity firm focused on multiple sectors | ||||
Investments in multiple sectors are pursued through PE and VC. | gii.ae | Dubai, United Arab Emirates | ||
Diversified asset management services are provided by OAKS. | oaksamc.com | Mumbai, India | ||
Early-stage venture capital firm investing in B2B technology solutions in the US and Israel. | cornerstonevp.com | |||
Investments in public markets, commodities, private equities, and real estate by a family office. | 2006 | sekhsaria.com | Mumbai, India | |
Multiple sectors are invested in by Badulipar private equity firm. | Shillong, India | |||
Investments, agriculture, and energy services provided by CIL. | 1982 | cginvest.co.in | Nagpur, India | |
Hero Ecotech is recognized as a leader in innovative cycling solutions. | 2002 | heroecotech.in | Ludhiana, India | |
Provides platform for idea generation, stakeholder collaboration, and innovation management. | 2017 | vocean.com | Stockholm, Sweden |
Investor details for Hero Electric
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Board of directors of Hero Electric Vehicles Private Limited (Hero Electric)
Hero Electric Vehicles Private Limited is the primary company behind Hero Electric. The board of Hero Electric Vehicles Private Limited currently have 2 directors; the longest-serving is Naveen Munjal, appointed in 2010. 17 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Naveen Munjal DIN 00084789 | Managing Director | 31 Jul 2010 | 16 yrs 3 mo | Hero Electric Vehicles Private Limited |
| Rupa Ghosh DIN 10761584 | Director | 03 Sep 2024 | 2 yrs 2 mo | Hero Electric Vehicles Private Limited |
People of Hero Electric
2 people are tracked at Hero Electric (2 in leadership); the tracked headcount is 342.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
Sohinder Singh Gill | CEO | Leadership |
Complete people profiles for Hero Electric
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Financials of Hero Electric
Figures of Hero Electric Vehicles Private Limited, the primary company behind Hero Electric, for FY 2023. Revenue was ₹994 Cr (+17% year on year). Net loss was -₹117 Cr (-12% margin). EBITDA was -₹114 Cr (-11% margin). Revenue has grown at a compounded annual rate of +56% over three years and +52% over five years.
- ₹994 CrRevenue · FY 2023 · +17% YoY
- -₹117 CrNet loss · -12% margin
- -₹114 CrEBITDA · -11% margin
- ₹68.82 CrPaid-up capital
- 342Employees (provident fund records)
- +56%Revenue CAGR, 3 years
- +52%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Hero Electric Vehicles Private Limited are on its company page.
Detailed financial statements for Hero Electric
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Hero Electric
4 dated milestones of Hero Electric across 16 years, from founding to its latest funding, stage changes and deals.
- Founded Hero Electric is founded.
- Funding First funding round of $2.2M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series B, of $26.6M.
Competitors of Hero Electric
Hero Electric has 3 listed competitors in our database, 3 of them funded. They include Ola Electric, Ather Energy and River.
| 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 | |
| rideriver.com | 2020 | Bengaluru, India | $66M | 396 | Electric scooters are designed and produced for urban mobility. |
Detailed competitors of Hero Electric
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Web traffic of Hero Electric
The website of Hero Electric (heroelectric.in) receives about 8.3K visits a month and ranks #2,873,358 among all websites worldwide, #6,344 in Motorcycles.
- Monthly visits8.3K
▲ 33.7% vs previous month
- Unique visitors3.3K
per month
- Global rank#2,873,358
among all websites
- Category rank#6,344
Vehicles · Motorcycles
- Bounce rate40%
- Pages per visit2.3
- Average visit4 min 30 sec
- DevicesDesktop 20% · Mobile 80%
Websites whose visitors overlap most with Hero Electric. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| vidaworld.com | 100% | 1.4M | #41,645 | View details | |
| yobykes.in | 100% | 2.9K | #5,844,837 | View details | |
| retroev.in | 99% | 19.8K | #1,464,993 | View details | |
| acerelectric.in | 94% | #1,259,538 | View details | ||
| amomobility.com | 92% | 19K | #1,602,240 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 37 similar websites and full traffic analytics for Hero Electric
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- 37 similar websites
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Top companies in Electric & Green Mobility
3 companies that operate in the same segment as Hero Electric (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 407.47 M | 1,917 |
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Related news about Hero Electric
Complete news archive for Hero Electric
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Frequently Asked Questions about Hero Electric
Hero Electric was founded in 2007 and raised its 1st funding round 6 years after it was founded.
Hero Electric is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Sohinder Singh Gill is the CEO of Hero Electric, as recorded in our data.
Hero Electric is a funded company, having raised a total of $129.6M across 9 funding rounds to date. The company's 1st funding round was a Seed of $2.2M, raised on Mar 2013.
Hero Electric has 342 employees.
The primary company behind Hero Electric, Hero Electric Vehicles Private Limited, reported revenue of ₹994 Cr for FY 2023, up 17% year on year.
Hero Electric was founded in 2007 and is based in Gurugram, India. Operations are centered in the electric vehicle sector, where zero-emission two-wheelers are developed for efficient urban transportation. The full production process is managed, encompassing component design, assembly, and manufacturing of mobility solutions. Focus is placed on sustainable alternatives to traditional vehicles in the Indian market.
Hero Electric's top competitors include Ather Energy, Ola Electric and River.
Hero Electric has 56 investors. Key investors include SunPower, Klub, Foodlink, SunPower, and SLK Software.
The valuation of Hero Electric is $198.93M as of Jun 2023.
Hero Electric operates through Hero Electric Vehicles Private Limited.
The legal entities of Hero Electric currently have 2 directors, including Rupa Ghosh, Naveen Munjal.