Konwert raises pre-Series A to convert India's auto-rickshaws to electric
What's the deal? Konwert India MotorsDealroom has a profile for this one. Try Dealroom →, a Coimbatore-based electric mobility startup, has raised an early-stage pre-Series A round led by The Chennai AngelsDealroom has a profile for this one. Try Dealroom →. Existing backers Campus Angels NetworkDealroom has a profile for this one. Try Dealroom →, Keiretsu Forum Chennai, and Native Angel NetworkDealroom has a profile for this one. Try Dealroom → also joined. Konwert will use the funds to grow sales, expand its product range, and enter new markets in India and abroad.
What's the endgame? Konwert converts petrol, CNG, and LPG auto-rickshaws into electric vehicles rather than selling new ones. A patented, magnet-free powertrain completes each conversion in 90 minutes at roughly half the cost of a new electric three-wheeler. The retrofit delivers up to 213km of range on a 10kWh battery.
Why now? Most of India's auto-rickshaws still run on fossil fuels, and a new electric three-wheeler is often out of reach for the drivers who own them. Konwert says drivers save around US$163–US$203.7 a month on fuel — about a quarter of a typical driver's income. Founded in 2019, the company says it is now in its scaling phase.
Who backs it, and why? "Electrifying transport is central to India's path to energy independence, and Konwert is well placed to contribute to it," said Deepak Reddy, lead investor at The Chennai Angels. He added that the company "has built the processes and partnerships it needs to scale."
Drivers can service converted vehicles at about 800 myTVS touchpoints across India and finance the work through four lending partners. Konwert currently operates in India and Sri Lanka and is developing retrofit solutions for light commercial vehicles.
The signal: Retrofitting extends the life of vehicles already on the road, offering a cheaper route to cleaner transport than scrapping and replacing them. For India's millions of fossil-fuel auto-rickshaws, the economics — half the upfront cost, meaningful monthly fuel savings — may matter more than any green pitch.
Read more: prevalentindia.com
Image credit: AJ Photographic Art
