You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Crowd-funded e-bike starts looking for investors

DNMUM372609 | 8/31/2016 | Author : Shahkar Abidi | WC :362



Mumbai: Spero, India's first crowd-funded electric bike, has initiated the second round of funding for product development. The first such campaign about a couple of months ago had garnered over Rs 40 lakh from 145 funders, fulfilling 125% of its goal. The company then received 100 plus bookings from across the country.
The second round of funding has so far raised about Rs 9 lakh.
Milltex Engineers, the manufacturer of Spero, was started with an initial investment of around Rs 1 crore by S Manikandan, a Coimbatore-based MBA.
"Lots of people came up to contribute even Rs 100 as a token amount because they were so excited about the idea. The best feedback came from an old farmer who called me and said his son
Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

Associated Content with this story:

Aamir Ali
DNMUM454327
Add To Lightbox
Calculate Price
Aamir Ali
DNMUM454328
Add To Lightbox
Calculate Price
Aamir Ali
DNMUM454329
Add To Lightbox
Calculate Price
Aamir Ali
DNMUM454330
Add To Lightbox
Calculate Price
Aamir Ali
DNMUM454331
Add To Lightbox
Calculate Price