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Revolt Intellicorp on Wednesday said it has raised ₹150 crore equity investment from RattanIndia Enterprises Limited, through which the company would expand presence across key 35 metro cities.
As part of the deal, RattanIndia Enterprises will hold an equity share in the company, with Rajiv Rattan joining as Non-Executive Chairman of the Board of the company, Revolt said in a statement.
In addition to this, the company will be leveraging AI, to upscale and provide a 100 per cent in-house developed – Made in India, contactless experience for its customers, it said.
Also read: Revolt Motors begins EV motorcycle sales in Mumbai
“Despite challenges brought by the pandemic, Revolt Motors has emerged a global powerhouse expanding its footprint to six cities across India. Our partnership with Rattan India Enterprises, complements our vision to offer eco-friendly transportation solutions as well as expand our reach to a larger base of customers across top 35 Indian cities,” Rahul Sharma, Founder, Revolt Intellicorp said.
This deal happens to be RattanIndia Enterprises first investment in an Indian start-up focused on smart, clean and eco-friendly transportation.
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