Tork Motorcycles raises funds from Ola's founders, angel investors

Electric bike maker Tork Motorcycles has raised angel funding for an undisclosed amount from a host of marquee investors including Ola founders Bhavish Agarwal, Ankit Bhati and a group of angels led by Harpreet Grover, the chief executive and co-founder of CoCubes.

Tork Motorcycles is focusing on creating practical electric mobility solutions for India, the company said in a statement here.

The start-up is in the final stage of prototyping and certification procedures of the country's first electric motorcycle. Named T6X, the motorcycle is being developed as a serious electric option to petrol-engine motorcycles.

Tork was founded by Kapil Shelke, a mechanical engineer with a passion for racing, who built five motorcycle prototypes at Tork Motors before.

"T6X will be the first electric motorcycle designed for the market. It will have IP over Battery management system, control systems, motor tuning, drive train and overall product integration. The motorcycle will enable significant reduction in overall cost of operation," it added.

The team has strengths in transportation design, engineering and industrial design, automotive design, automotive electronics and embedded systems, the statement added.

The demand for electric two-wheelers is expected to be around 1.3 million by 2020-21, according to industry estimates.