India's Tork Gets VC Funding
Much of India is a nation on two-wheels: motorcycles, motorbikes, scooters, bicycles. Increasingly, entrepreneurs there are rolling out electric versions. In 2014 Ather, an e-scooter startup, received a million dollars in funding.
Now Tork, first launched in 2009 by Kapil Shelke has just received funding from a group of Indian venture capitalists including Bhavish Agarwal and Ankit Bhati, Co-founders of Ola and Harpreet Grover, Co-founder and CEO of CoCubes. The funding will be used to launch production of the T6X motorcycle, the consumer version of the company's TTX-GP racer.
According to India-based YourStory, the goal is to develop not only a quick running and fast charging machine, but one with double the range needed for the Isle of Man's TTX-GP 37 miles (60 km) course.
The Economic Times of India reports that "demand for electric two-wheelers is expected to be around 1.3 mn by 2020-21..." The company says that it's about 90% of the way to deciding on the price of the machine, with several suppliers still in negotiations.
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