Vioma Motors was founded in 2020 by a team of aerospace engineers Varsha Anoop, Shomick Mohanty, Ummesalma Babuji
Bengaluru: Investment firm Colossa Ventures LLP said it has picked up 10 per cent stake in electric mobility startup Vioma Motors leading the latter's funding round.
The company, however, did not disclose the value of its investment in the electric two-wheeler startup and said BRTSIF, the existing investor, is also expected to participate in the funding round.
Vioma Motors was founded in 2020 by a team of aerospace engineers Varsha Anoop, Shomick Mohanty, Ummesalma Babuji, and chartered accountant Hozefa Irani. It claims to have developed an electric two-wheeler with a range of 400 km on a single charge.
"We are very excited to be part of Vioma's journey as its revolutionary technology validated by ARAI disrupts the fast-growing EV market," Colossa Ventures Founder Ashu Suyash said.
Colossa primarily looks to invest in 'women-first' businesses with innovative ideas.
"Resolving Range anxiety for customers without compromising on safety and economics has been the key motivation for starting up Vioma Motors. The new investment will be utilised towards optimising the battery pack, completing the homologation process and gearing up for commercial launch," Vioma Motors Co-Founder & CEO Varsha Anoop said.
With the closing of the Pre-Series A fundraise, Vioma Motors plans to fast-track its development and launch of the E2W model, the statement said.