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| ah! Ventures invests in EV startup Delta X Automotive through its First Gear Platform |
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| ah! Ventures invests in Delta X Automotive, an IISc incubated EV Startup, through its First Gear Platform. ah! Ventures has done 206 investments in 125 startups till date taking its total investment portfolio to INR 434 CR (~54 MN USD) with 16 exits and 48 follow on rounds. 52 investments have happened through all three platforms and the fund in 2023. |
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| Founded in 2020 by Navaz, Venkatesh, and Logasrinivasan as a spin-off from a course project during their master's program at the Indian Institute of Science (IISc), They started Delta X Automotive having a vision to accelerate EV adoption through micro-mobility solutions. After graduating, the project received funding from the Design Innovation Centre (DesIC) in 2019, enabling the team to develop quick prototypes and gain insights into the market. |
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| In 2020 after incorporating, the team formally pitched their business idea to the entrepreneurial wing of IISc, SID (Society for Innovation and Development), which supports the transition of ideas and research from IISc into startups. SID validated our business plan, deemed it a fit for the founders, and provided space along with a grant from the Ministry of Electronics and Information Technology. |
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| With this support, Delta X Automotive explored various mobility solutions for micro-mobility problems, utilizing the COVID period for focused design and development. Notably, the team secured the IDEA 2 POC grant from Startup Karnataka's flagship program, Elevate 2021, and became a beneficiary of the Startup India Seed Fund. |
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| Armed with these funds, The team proudly presents the innovative micro-mobility scooter, KIX+. This electric scooter, designed for young individuals and families for short commuting needs, boasts unique differentiators in the market. The KIX+ features a removable battery, allowing users to charge it in any conventional power socket, fast charging fully in less than an hour and providing a range of 50 km. Notably, the scooter operates with a fingerprint, offering a seamless and secure experience akin to a mobile phone. |
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| The MVP of KIX+ was showcased at the 184th birth anniversary of Jamshetji Tata during IISc's open-day celebration, and startup successfully collected pre-orders crossing a major milestone of proving the product-market fitness. |
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| Delta X Automotive is excited to embark on this new chapter with ah! Ventures' First Gear program, and we remain committed to reshaping the future of micro-mobility with our innovative solutions. Please have a look at the founders talking about KIX+ in the video. |
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| Amit Kumar, Senior Partner at ah! Ventures said, “We are supremely bullish on the 2 wheeler e-mobility space. Having made couple of investments in this sector and witnessing the growth & success of those companies, encouraged us to take Delta X into the First Gear fold. Their unique offering powered by technology will be a product to look forward to. We are delighted to welcome them to our First Gear family and more so the larger ah! Ventures’ family.” |
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| ah! Ventures is one of the world's largest fundraising platform for early stage startups raising up to 10 MN USD. ah! Ventures has three platforms: First Gear, which helps startups raise upto INR 1 CR (~USD 150K), Angel Platform, which helps startups raise upto 1 MN USD and High Tables Platform, which helps startups raise 1-10 MN USD. Today ah! First Gear, Angel and High Tables platforms have over 70000+ entreprenurs, 6000+ seed/angel investors and over 1000 VCs & institutional investors registered with it. ah! First Gear, Angel and High Tables platforms till date have invested INR 434 CR (~54 MN USD) in 125 startups & 206 investments and have announced 16 exits & 48 follow on rounds. |
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| Contact: Abhijeet Kumar, abhijeet@ahventures.in
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