Welectric Closes Angel Investment From Electric Two Wheeler Pioneer & Others

Welectric, is an early stage start-up building a new age digital one stop shop for sales, finance, maintenance and aftermarket of multi-brand electric two wheelers. Founded by Vikas Jain and Tamilselvan Subramanian, the company has raised an undisclosed amount in the angel investment round from various senior industry professionals. The start-up is solving the problems impeding the adoption of electric two wheelers and has also signed up senior industry professionals as mentors. 

Hemalatha Annamalai, who was one of the pioneers in the electric two wheeler industry in India participated in the is an investor and mentor to Welectric. She was the Founder and CEO of the only electric two wheeler manufacturing company (Ampere) that has so far been able to scale up and get an exit via an acquisition by Greaves. Other investors in the angel investment round include senior industry professionals like Ashish Patil, Sanjay Sunku, Ramasubramanian Balasubramanian, Rambabu Pallavalli, and Vinay Trivedi 

Speaking on the transaction, Vikas Jain, Founder & CEO Welectric said “The transition to electric two wheelers will be one of the biggest mega trends of the 2020s in India, akin to what happened with smartphones in 2010s. In the next 10 years electric two wheelers will not just replace all new two wheeler sales but also expand the market due to their lower total cost of ownership, which will further come down in the next few years.” 

Vikas Jain is an alumnus of SP Jain and has rich experience of over 12 years in various corporate finance and investor relations roles. During the course of his career, he has worked with a venture backed equipment leasing company GEAR and has also worked for prominent real estate companies such as Brigade Group and Embassy Office Parks (the first REIT in India). With Welectric, Vikas is combining his experience in equipment leasing and fixed asset lifecycle management to build a new age mobile asset (electric two wheelers) lifecycle management company. 

Tamilselvan Subramanian, the Co-Founder and CTO comes to Welectric with 18 years of strong diverse technology experience. He is a second time founder and in his last start-up Sansten AI Labs, he built an artificial intelligence (AI) and machine learning (ML) based medical images diagnostic product which got acquired by a Malaysian company. Earlier, he has built an AI cloud platform for Enterprise in the past and got two AI and Image processing patents. He has worked as a technical architect / consultant to many companies across Europe, US and Australia. At Welectric, Tamilselvan is building a new age digital ecosystem for the sales, finance, maintenance 2 | P a g e and aftermarket of electric two wheelers that will offer a seamless, flexible and hassle free electric two wheeler ownership experience to millions of Indians. 

Welectric is also being mentored by senior industry professionals like Anil Nashier and Suvranil Majumdar.

Anil is a Digital Transformation leader and a technocrat with more than 24 years of global experience in Senior Leadership/Executive roles spanning Europe, APAC, the US & India. He is the Digital / IT Director at the world’s No.1 vehicle management/leasing company managing a fleet of over 1.9 million vehicles in 32 countries. 

Suvranil is a Master in Public Policy from Harvard Kennedy School and has worked across Asia, Africa, Europe, North America & Latin America. He has close to two decades of experience in working with international development organizations, National/State/City Govts, Industry Partners, Investors/Donors, Start-ups, Civil Society & Academia to develop & implement Climate Smart projects with focus on disruptive technologies such as Smart Cities & Electric mobility.