Chennai: Raptee.HV is seeking to raise Rs 200 crore to finance a production ramp-up, expand its retail network, and develop its next generation of products, as the Chennai-based electric motorcycle startup prepares for a new phase of growth.After spending seven years building its technology platform and quietly refining its battery-powered motorcycle, the T30, priced at Rs 2.39 lakh (ex-showroom), before commencing customer deliveries a few months ago, the company is now in discussions with several large private equity funds and family offices, primarily based in Mumbai.Co-founded by former Tesla engineer Dinesh Arjun, the company expects the capital infusion to support its next chapter of growth. “We are hoping to complete the fund raise in the next three to three-and-a-half months,” Arjun, co-founder and CEO of the company, told TOI. “The focus right now is on scaling up production and distribution, but without compromising customer experience.”The proposed Rs 200-crore investment is primarily intended to finance raw material procurement rather than factory construction.“The capex is already installed. The facility is already there,” Arjun said. “The funding is largely for scaling up production through inventory purchases, while the balance will go towards R&D for the next vehicle and expanding our go-to-market network.”The existing Chennai facility has an installed capacity of 1,500 motorcycles a month, although actual production remains well below that level. The company plans to raise output gradually to around 3,500 units a month by the end of its second year. It has also bought a 40-acre site at Cheyyar in Tamil Nadu for future expansion.By the end of FY28, Raptee aims to achieve production volumes of about 2,500 motorcycles a month and expand its retail footprint to 60 cities across the country.The company’s first retail outlet in Chennai has sold around 80 motorcycles in just three months and is already operating with a waiting period of nearly three months. It receives around 50-55 bookings a month but is currently able to produce only 20-25 motorcycles monthly.“Bangalore will be our next outlet. By March next year, we want to be present in six metros — Chennai, Bangalore, Kochi, Hyderabad, Gurgaon and Pune,” he said.While most electric two-wheelers continue to use low-voltage architectures originally designed for scooters, Raptee has developed an in-house high-voltage platform that it says delivers sustained performance, longer battery life, and significantly faster charging.
