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Rs 3,000 Cr Investment for e-Vehicle Startup
Telangana IT Minister KT Rama Rao congratulated the Startup for bagging the investment.
G
Guru Prasad
Hyderabad
Thu Nov 04 2021
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Rs 3,000 Cr Investment for e-Vehicle Startup
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Biliti Electric, founded by city-born entrepreneurs, has got an investment commitment of Rs 3,000 crore, which has been a significant boost to the Hyderabad startup ecosystem. US-based Biliti Electric has an exclusive partnership with GMW to supply electric three-wheelers — some of which are manufactured at the company’s unit in Sangareddy. T-Hub incubated company, GMW, founded by two brothers Rahul Gayam and Raja Gayam, and their college mate Sri Harsha Bavirisetty is a pioneer in the electric mobility space and has developed in-house electric autos.


Telangana IT Minister KT Rama Rao congratulated the Startup for bagging the investment and said, “Congratulations to T-Hub startup GMW for raising Rs 3,000 crore as investment. You make us proud. Let’s make Telangana the hub for Electric Vehicles.”The commitment will be in the form of a Share Subscription Facility and will be made available on the first day of trading or in tranches to be drawn at the company’s option over a four-year period.



Along with being used by big clients like Zomato, BigBasket, IKEA, and others, these electric three-wheelers are also exported to countries like France, the UK, Portugal, Japan, Nepal, Uganda, and Bangladesh. The SmartAuto developed is European certified and is also the first e-3W to be designed with a modular battery swapping system.


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Rs 3,000 Cr Investment for e-Vehicle Startup
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