Hyderabad
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.
Congratulations to @THubHyd startup @GMWSmartAuto for raising ~3000 Crore as investment ?@rahulgayam and @gayamraja, you make us proud. Let’s make Telangana the hub for Electric Vehicles!
— KTR (@KTRTRS) November 3, 2021
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.