About Welectric
Welectric is a company based in Bengaluru (India) founded in 2019 by Tamilselvan Subramanian and Vikas Jain.. Welectric has raised $183.5 thousand across 2 funding rounds from investors including Hemalatha Annamalai, Sanjay Satyanarayan Sunku and Vinay Trivedi. Welectric operates in a competitive market with competitors including Yulu, Hala Mobility, Scoo EV, Zeway and GoFuel, among others.
- Headquarter Bengaluru, India
- Founders Tamilselvan Subramanian, Vikas Jain
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Sectors
Transportation, Automotive & Logistics
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Phone
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Website
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Social
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- Legal Name Easetronics Private Limited
- Date of Incorporation 23 Dec, 2015
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$95.78 K (USD)287.84as on Mar 31, 2022
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Net Profit
$-101.67 K (USD)-221.24as on Mar 31, 2022
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EBITDA
$-79.48 K (USD)-313.46as on Mar 31, 2022
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Total Equity Funding
$183.5 K (USD)
in 2 rounds
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Latest Funding Round
$47.09 K (USD), Angel Round
Nov 08, 2021
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Investors
& 12 more
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Employee Count
Employee Count
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Funding Insights of Welectric
Welectric has successfully raised a total of $183.5K across 2 strategic funding rounds. The most recent funding activity was a Angel Round round of $47.09 thousand completed in November 2021. 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 2
- Last Round Angel Round — $47,092
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First Round
First Round
(09 Oct 2020)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Angel Round - Welectric | Valuation | Hemalatha Annamalai , Sudip Nandy | |
| Oct, 2020 | Amount | Angel Round - Welectric | Valuation | Ashish Patil |
| 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 Welectric
Welectric has secured backing from 13 investors, including angel investors. Prominent investors backing the company include Hemalatha Annamalai, Sanjay Satyanarayan Sunku and Vinay Trivedi. 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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HA
Hemalatha Annamalai |
Founder of Ampere Vehicles, angel investor in Indian startups
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Founded Year | Domain | Location |
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SS
Sanjay Satyanarayan Sunku |
Angel investor, ex-entrepreneur, focused on early-stage Indian startups
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Founded Year | Domain | Location |
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VT
Vinay Trivedi |
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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 Welectric
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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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 - Welectric
| 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 |
Welectric Comparisons
Competitors of Welectric
Welectric 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 Yulu, Hala Mobility, Scoo EV, Zeway and GoFuel, 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 |
Shared electric two-wheelers are rented via an online platform.
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| domain | founded_year | HQ Location |
Electric mobility solutions are offered via rentals and financing options.
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| domain | founded_year | HQ Location |
Offers electric scooter rental services with comprehensive solutions for urban mobility.
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| domain | founded_year | HQ Location |
Provides EV charging stations and rentals of electric scooters for eco-friendly transport.
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| domain | founded_year | HQ Location |
Door-to-door diesel delivery through mobile app for on-demand fuel needs.
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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 Welectric
Frequently Asked Questions about Welectric
When was Welectric founded?
Welectric was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Welectric located?
Welectric is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Welectric?
Vikas Jain is the current CEO of Welectric. They have also founded this company.
Is Welectric a funded company?
Welectric is a funded company, having raised a total of $183.5K across 2 funding rounds to date. The company's 1st funding round was a Angel Round of $136.4K, raised on Oct 09, 2020.
What is the annual revenue of Welectric?
Annual revenue of Welectric is $95.78K as on Mar 31, 2022.
What does Welectric do?
Welectric was founded in 2019 and is based in Bengaluru, India. A platform is operated to deliver lifecycle solutions for multi-brand electric two-wheelers, encompassing leasing, financing, maintenance, and resale services. These offerings are directed toward corporate employees and last-mile delivery operations within the electric mobility sector. Operations focus on streamlining vehicle management for business users across India.
Who are the top competitors of Welectric?
Welectric's top competitors include Yulu, Hala Mobility and GoFuel.
Who are Welectric's investors?
Welectric has 13 investors. Key investors include Hemalatha Annamalai, Sanjay Satyanarayan Sunku, Vinay Trivedi, Sudip Nandy, and Anil Nashier.
What is Welectric's valuation?
The valuation of Welectric is $588.54K as of Nov 2021.