About Hero Electric
Hero Electric is a company based in Gurugram (India) founded in 2007 by Vijay Munjal.. Hero Electric has raised $129.6 million across 9 funding rounds from investors including SunPower, Klub and Foodlink. The company has 342 employees as of December 31, 2024. Hero Electric operates in a competitive market with competitors including Ola Electric, Ather Energy, Gogoro, River and BGauss, among others.
- Headquarter Gurugram, India
- Employees 342 as on 31 Dec, 2024
- Founders Vijay Munjal
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Hero Electric Vehicles Private Limited
- Date of Incorporation 31 Jul, 2010
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$119.45 M (USD)16.55as on Mar 31, 2023
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Net Profit
$-14.02 M (USD)-289.19as on Mar 31, 2023
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EBITDA
$-14.98 M (USD)-297.46as on Mar 31, 2023
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Total Equity Funding
$129.6 M (USD)
in 9 rounds
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Latest Funding Round
$26.62 M (USD), Series B
Jun 22, 2023
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Investors
SunPower
& 55 more
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Employee Count
342
as on Dec 31, 2024
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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 Total Funding
- Total Rounds 9
- Last Round Series B — $26.6M
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First Round
First Round
(29 Mar 2013)
- Investors Count 56
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Series B - Hero Electric | Valuation | Wafi Investment , Heroecotech |
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| Jun, 2022 | Amount | Series B - Hero Electric | Valuation | Klub |
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| Jul, 2021 | Amount | Series B - Hero Electric | Valuation | Vocean |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Investments in multiple sectors are pursued through PE and VC.
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Founded Year | Domain | Location | |
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Diversified asset management services are provided by OAKS.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Hero Electric
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Hero Electric
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Hero Electric Comparisons
Competitors of Hero Electric
Hero Electric operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ola Electric, Ather Energy, Gogoro, River and BGauss, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric scooters and motorcycles are manufactured with related accessories.
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| domain | founded_year | HQ Location |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories
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| domain | founded_year | HQ Location |
Electric scooters are developed and battery swapping networks are operated.
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| domain | founded_year | HQ Location |
Electric scooters are designed and produced for urban mobility.
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| domain | founded_year | HQ Location |
Retailer of electric scooters offering test rides, maintenance, and financing
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Hero Electric
Frequently Asked Questions about Hero Electric
When was Hero Electric founded?
Hero Electric was founded in 2007 and raised its 1st funding round 6 years after it was founded.
Where is Hero Electric located?
Hero Electric is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of Hero Electric?
Sohinder Singh Gill is the current CEO of Hero Electric.
Is Hero Electric a funded company?
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 Series B of $30.09M, raised on Mar 29, 2013.
How many employees does Hero Electric have?
As of Dec 31, 2024, the latest employee count at Hero Electric is 342.
What is the annual revenue of Hero Electric?
Annual revenue of Hero Electric is $119.45M as on Mar 31, 2023.
What does Hero Electric do?
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.
Who are the top competitors of Hero Electric?
Hero Electric's top competitors include Ather Energy, Ola Electric and BGauss.
Who are Hero Electric's investors?
Hero Electric has 56 investors. Key investors include SunPower, Klub, Foodlink, SunPower, and SLK Software.
What is Hero Electric's valuation?
The valuation of Hero Electric is $198.93M as of Jun 2023.
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