The Chennai Angels (TCA), an angel investment group, has invested ₹2.61 crore in Blaer Motors, a National Institute of Technology-Trichy incubated start-up based in Chennai.
Founded by four engineering students, Blaer Motors builds and develops technological solutions in the transportation and mobility space. The company focuses on developing clean, smart and efficient solutions that are cost efficient to meet the needs of the consumer. The start-up has been working on hybrid and electric drive-train solutions for two-wheelers and three-wheelers and collaborating with multiple OEMs (original equipment manufacturers) for commercializing drive-train solutions.
“This is our first round of external investment. We will be utilising this fund mainly for infrastructure development, strengthening of our Research and Development (R&D) team and technology development. Our focus now is to optimise our hybrid technologies for motorcycles and expand our product portfolio into three-wheelers and light commercial vehicles (LCVs),” said Abinesh Ekambaram, co-founder, Blaer Motors. He added, “We want to establish Blaer as an indigenous technology provider in the automotive industry, which is dominated by European companies.”
The Chennai Angels’ investment director, Vasantha Kumar, head business development, ABAN Infrastructure Ltd, who led this round of funding, said, “Blaer Motors came across as an innovation-driven and technologically robust company working on developing hybrid technology for two and three-wheeler vehicles. This hybrid technology will help in both enhanced performance and fuel efficiency of vehicles. India being the world’s largest two and three wheeler market, this innovation will have a huge impact on the domestic market.”
Chandran Krishnan, CEO of The Chennai Angels said, “The Chennai Angels is betting on Blaer Motors because we share their vision of sustainable transportation and mobility. The hybrid bike runs intermittently on internal combustion and this will significantly reduce pollution. We believe that there is a bright future for this company in the automobile space as their technology is advanced and reduces cost in acquiring hybrid vehicles in India.”