Blaer Motors raises Rs 2.61 cr from The Chennai Angels

Chennai, Jun 7(PTI): Blaer Motors, a NIT-Trichy incubated start-up, has raised Rs 2.61 crore from The Chennai Angels that would be utilised for infrastructure development, strengthening the research and development team, a top official said on Monday.

Blaer Motors builds and develops technological solutions in transportation and mobility space.

The company focuses on developing clean, smart and efficient solutions to meet the needs of the consumer.

Blaer Motors has been working on hybrid and electric drivetrain solutions for two-wheelers and three-wheelers and collaborating with multiple OEMs for commercialising the drivetrain solutions.

''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,'' Blaer Motors co-founder, Abinesh Ekambaram said.

''Blaer Motors will be utilising this fund mainly for infrastructure development, strengthening of our R&D team and technology development.Our focus is to further optimise our hybrid technologies for motorcycles and expand our product portfolio into 3-wheelers and LCVs,'' he said.

The Chennai Angels' Investment director and ABAN Infrastructure Head-Business development, Vasantha Kumar, led the round of fundraising.

''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 the vehicles,'' Kumar said.

''I believe that Blaer Motors is uniquely positioned to tap the ever-emerging opportunities in the sector,'' he added.

''The Chennai Angels is betting on Blaer Motors because we share their vision of sustainable transportation and mobility,'' Chennai Angels CEO Chandran Krishnan said.PTI VIJ BN BALA BN BALA

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