Alpha Vector, an Indian startup announced the launching of its first e-bicycle Meraki by Ninety-One in India. Launched at Rs 29,999, the e-bicycle will not need any license.
Alpha Vector aims to set its foot into the global e-bicycle market which will cross $38.6 billion market capitalization by 2025. The company press release states that they have received over 100 pre-booking registrations from cities like Mumbai, Bangalore, and Delhi.
The bike comes with a 250 watt, IP 65, BLDC Motor, and sports a top speed of 25kmph. The cycle will be installed with a lithium-ion battery with 6.36AH and will last 750 cycles of charging. The users can charge the battery within 2.5 hours.
Meraki is equipped with e-brakes and supports automatic brake cut off and comes with 4 driving modes – Pedal Assist, Throttle, Cruise, and Pedal. It will be available in more than 350 cities in India through 700 retail stores in Black-Red and Silver-Grey colours. The bike will have a screen that will display battery level indication, PAS mode control, and an ergonomically designed button.
The company has witnessed a growth of 2.5x in its monthly revenue rate from March 2020 till September 2020. It plans to achieve a target of 300CR annual revenue rate by ramping up supplies over the next few months. Alpha Vector is financed by Fireside Venture, Avaana Capital, and Titan Capital.
Mr Vishal Chopra, Co-Founder, Alpha Vector, said, “We are excited to announce the launch of our flagship e-bicycle in India, which we believe is going through a ‘Cycling Revolution.’ While the pandemic has piqued consumer interest in bicycles, innovation and customer-centricity will be the game-changers in this industry. With the launch of this e-bicycle, we are pedalling the extra mile for each of our rides to make their every ride better than the last.”