Detel plans to raise Rs 150 crore by end-2021

Electric vehicle startup Detel is targeting to raise Rs 150 crore by the end of this year. It had unveiled the advanced model of its two-wheeler Detel Easy—Detel EV Plus—catering to the needs of B2C segment, and Detel Easy Loader for B2B customers at the recent India Auto Show.

“We will invest the funds towards developing new product lines for tier 2 and tier 3 markets at disruptive pricing but without compromising on quality,” the start-up said in a statement. It will create an R&D facility and also a state-of-the-art manufacturing unit in Gurugram.

Detel was started in 2017, as an electronics goods & consumer gadgets start-up. In January 2020, the company entered the EV industry.