The Chennai Angels (TCA), one of India’s leading angel investment group, today announced an investment of Rs 2.61 Crores in Blaer Motors, an NIT-Trichy incubated startup based in Chennai.
Founded by 4 engineering students, Blaer Motors builds and develop 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. Blaer has been working on Hybrid and Electric drivetrain solutions for 2-Wheelers and 3-Wheelers and collaborating with multiple OEMs for commercializing the drivetrain solutions.
The Chennai Angels’ Investment Director, Mr. Vasantha Kumar, Head Business Development, ABAN Infrastructure Ltd who led this round of fundraise said “Blaer Motors came across as an innovation driven and technologically robust company working on developing hybrid technology for two & three-wheeler vehicles. This hybrid technology will help in both enhanced performance and fuel efficiency of the vehicles. India being the world’s largest 2 & 3 wheeler market, this innovation will have a huge impact on domestic market. I believe that Blaer Motors is uniquely positioned to tap the ever-emerging opportunities in the sector”
Mr. Abinesh Ekambaram, Co-Founder, Blaer Motors, said “this is our first round of external investment and we are very excited about this partnership with The Chennai Angels who share our vision towards sustainable mobility. We are thankful to our investors for believing in Blaer and we value their expertise in the automotive industry, which will help us to further our products and business strategies and strengthen our position in the market. ”
“Blaer Motors will be utilizing this fund mainly for infrastructure development, strengthening of our R&D team and technology development. Our focus now is to further optimize our hybrid technologies for motorcycles and expand our product portfolio into 3-Wheelers and LCVs. We want to establish Blaer as an indigenous technology provider in the automotive industry, which is dominated by European companies.” Abinesh added.
According to Mr. Chandran Krishnan, CEO of The Chennai Angels. “The Chennai Angels is betting on Blaer Motors because we share their vision of sustainable transportation and mobility. The hybrid bike runs intermittently on IC 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”
About Baler Motors
As a part of their final year thesis, four engineering students driven by passion, conceptualized and developed an innovative technology. With initial funding and incubation support from NIT-Trichy, Blaer Motors Pvt. Ltd. was born in 2014. Baler Motors focuses on developing Clean, Smart and Efficient solutions for sustainable transportation and mobility. Blaer motors offers, Blaer Hybrid Solution - A patented plug-in hybrid technology for “Green Mobility”, LPG Two Wheeler Solutions and Electric Bicycle called Pedaleze.
The Chennai Angels
The Chennai Angels (TCA, www.thechennaiangels.com) is one of India’s most active angel investing groups. Founded in the year 2007, it is comprised of successful entrepreneurs and business leaders with a track record of starting and scaling large enterprises. Additionally, several seed and venture capital firms hold institutional membership in the group. Though it is located in Chennai, TCA’s investing members and portfolio investments are not limited by geography. Unusually for an angel investing group, TCA has a diversified portfolio that goes well beyond a restrictive tech focus, reflecting the diversity of its members’ interests. TCA portfolio companies benefit from the collective expertise and rolodex of its members.