Electric two-wheeler maker BGauss has raised ₹110 crore ($11.6 million) in a fresh Series D funding round led by founder Hemant Mahendrakumar Kabra, as the company looks to strengthen its operations, expand its product portfolio and scale in India’s increasingly competitive electric scooter market. Existing investor Bharat Value Fund also participated in the round.
According to regulatory filings sourced from the Registrar of Companies, BGauss’ board approved the allotment of 17,26,846 Series D compulsorily convertible preference shares (CCPS) at ₹637 per share. The latest transaction values the company at roughly ₹1,000-1,100 crore on a post-money basis, although the valuation could change if the current funding round is expanded further.
BGauss Raises ₹110 Crore In Series D Round
The latest financing gives BGauss fresh capital at a time when India’s electric two-wheeler market is becoming increasingly crowded.
The round was led by founder Hemant Mahendrakumar Kabra, who invested ₹50 crore. Bharat Value Fund, an existing investor, contributed ₹44 crore, while Adesh Realtor LLP and Maithan Alloys invested ₹10 crore and ₹6 crore, respectively.
BGauss Funding Round At A Glance
| Parameter | Details |
|---|---|
| Company | BGauss |
| Sector | Electric two-wheelers |
| Latest round | Series D |
| Fresh funding | ₹110 crore |
| Dollar value | ~$11.6 million |
| Post-money valuation | ~₹1,000-1,100 crore |
| Founder investment | ₹50 crore |
| Bharat Value Fund | ₹44 crore |
| Adesh Realtor LLP | ₹10 crore |
| Maithan Alloys | ₹6 crore |
| Securities issued | 17,26,846 Series D CCPS |
| Issue price | ₹637 per share |
| Founder | Hemant Mahendrakumar Kabra |
The founder’s ₹50 crore contribution accounts for nearly 45.5% of the latest ₹110 crore round, making his participation the largest single investment in the financing.
Who Invested In BGauss?
The funding round has a mix of founder capital and institutional and corporate investors.
BGauss Series D Funding Breakdown
Investor-wise contribution to BGauss’ reported ₹110 crore Series D funding round.₹0₹15₹30₹45₹60Hemant KabraBharat Value FundAdesh Realtor LLPMaithan Alloys
Figures are based on the regulatory filing details reported by Entrackr.
Investor Contribution
| Investor | Investment | Share Of Round |
|---|---|---|
| Hemant Mahendrakumar Kabra | ₹50 crore | 45.5% |
| Bharat Value Fund | ₹44 crore | 40.0% |
| Adesh Realtor LLP | ₹10 crore | 9.1% |
| Maithan Alloys | ₹6 crore | 5.5% |
| Total | ₹110 crore | 100% |
The strong participation from Bharat Value Fund also represents continued backing from an existing institutional investor.
BGauss Valuation Reaches Around ₹1,000-1,100 Crore
The latest round values BGauss at approximately ₹1,000-1,100 crore on a post-money basis, according to the report.
The valuation is notable because BGauss is still a relatively small player in India’s electric two-wheeler market.
At the reported ₹1,000 crore lower-end valuation, the company is being valued at roughly 9.1 times the fresh capital raised.
Valuation Snapshot
| Metric | Figure |
|---|---|
| Fresh capital | ₹110 crore |
| Lower-end post-money valuation | ₹1,000 crore |
| Upper-end post-money valuation | ₹1,100 crore |
| Funding as % of lower valuation | ~11% |
| Funding as % of upper valuation | ~10% |
The report also notes that the latest funding could be part of a larger round, meaning the final valuation may vary once the complete financing is closed.
Founder Hemant Kabra Leads The Round
Founder Hemant Mahendrakumar Kabra invested ₹50 crore in the latest financing.
His investment is significant because it demonstrates continued financial commitment from the company’s promoter at a stage when BGauss is seeking to expand its presence in India’s EV market.
Kabra founded BGauss in 2020 and is also associated with the electrical conglomerate RR Global.
BGauss Leadership
Hemant Mahendrakumar Kabra
↓
Founded BGauss in 2020
↓
Built electric two-wheeler business
↓
Invested ₹50 crore in latest Series D
↓
Company valued at ~₹1,000-1,100 crore
The founder’s participation is complemented by continued support from Bharat Value Fund.
Bharat Value Fund Remains A Key Backer
Bharat Value Fund invested ₹44 crore in the latest round.
The fund has previously backed BGauss with a much larger funding round. In January 2025, BGauss raised ₹161 crore from Bharat Value Fund through a combination of primary and secondary capital.
Before that, BGauss had raised ₹52 crore in April 2022 from a group of investors led by Darshan Patel, founder of Vini Cosmetics.
BGauss Funding Timeline
| Year | Funding | Key Investor |
|---|---|---|
| 2022 | ₹52 crore | Investor group led by Darshan Patel |
| 2025 | ₹161 crore | Bharat Value Fund |
| 2026 | ₹110 crore | Hemant Kabra + Bharat Value Fund + others |
BGauss Reported Funding Rounds
Reported funding amounts across BGauss’ major financing rounds since 2022.₹0₹45₹90₹135₹180202220252026
The 2025 round included both primary and secondary capital; the 2026 round is a fresh Series D round.
Across these three reported rounds, BGauss has raised ₹323 crore, although the structure of individual rounds differs.
BGauss Reports Strong July Sales Growth
The new capital comes as BGauss attempts to increase its presence in India’s electric two-wheeler market.
The company registered 5,518 retail registrations in July 2026, representing approximately three times year-over-year growth, according to the latest report. Despite that growth, BGauss held only around 0.3% of India’s electric two-wheeler market during the month.
July 2026 Sales Snapshot
| Metric | July 2026 |
|---|---|
| Retail registrations | 5,518 |
| YoY growth | ~3X |
| Market share | 0.3% |
| Segment | Electric two-wheelers |
The figures show both the opportunity and challenge facing BGauss: sales are growing rapidly from a relatively small base, but the company remains a minor player compared with India’s largest electric two-wheeler manufacturers.
BGauss Operates In A Highly Competitive Market
The electric two-wheeler market has attracted both dedicated EV startups and established automotive companies.
BGauss competes with EV-focused companies such as Ather and River Mobility, while established manufacturers including Ola Electric, Hero MotoCorp, TVS Motor and Bajaj Auto also compete in the segment.
India’s Electric Two-Wheeler Competitive Landscape
| Category | Major Players |
|---|---|
| EV-focused companies | BGauss, Ather, River Mobility, Ola Electric |
| Established manufacturers | Hero MotoCorp, TVS Motor, Bajaj Auto |
| BGauss July 2026 market share | 0.3% |
The competitive environment means BGauss will need to translate its fresh funding into stronger distribution, products, technology and customer acquisition.
BGauss Focuses On Technology-Enabled Electric Scooters
Founded in 2020, BGauss develops electric scooters that combine design with technology features.
The company highlights technologies including AI-enabled systems, Internet of Things (IoT) integration, fast charging and low-maintenance requirements.
BGauss Product Strategy
Electric Scooter
AI-enabled Features
IoT Integration
Fast Charging
Low Maintenance
↓
Technology-focused EV Offering
The company is attempting to differentiate itself through a combination of technology and product design rather than competing only on price.
BGauss Previously Planned To Expand Manufacturing And Distribution
The company’s previous funding round provides some context for how it has been using growth capital.
When BGauss raised ₹161 crore from Bharat Value Fund in January 2025, it said the funding would support expansion in India and international markets, infrastructure, marketing and in-house R&D. The company also planned to increase its dealership network from 120 to 500 and establish more than 1,000 service touchpoints.
At that time, BGauss reported annual manufacturing capacity of 100,000 units and said it was preparing to introduce two new products.
Previous Expansion Targets
| Area | Earlier Target |
|---|---|
| Dealerships | 500 |
| Service touchpoints | 1,000+ |
| Manufacturing capacity | 100,000 units annually |
| New products | 2 planned |
| International focus | India + overseas markets |
These earlier targets provide context for the company’s ongoing expansion strategy, although the latest report does not provide an updated dealership or manufacturing figure.
BGauss Has A Small Share Of A Large Market
The company’s 0.3% market share in July illustrates the scale of the opportunity available to it.
At the same time, the number also shows how difficult it will be to become one of India’s leading electric two-wheeler companies.
BGauss Position
5,518 July Registrations
↓
~3X YoY Growth
↓
0.3% Market Share
↓
Large Room To Scale
↓
Highly Competitive Market
Rapid growth will need to continue for BGauss to materially increase its share of the national market.
Fresh Capital Could Support Product And Market Expansion
The latest funding gives BGauss additional capital to execute its expansion plans.
Entrackr reported that the company intends to use the fresh funds to scale operations, strengthen its product portfolio and support expansion plans.
Potential Capital Deployment
| Area | Expected Role |
|---|---|
| Operations | Scale the business |
| Product portfolio | Develop and expand offerings |
| Expansion | Increase market presence |
| Technology | Support product differentiation |
| Manufacturing | Potential capacity scaling |
| Distribution | Support wider reach |
The precise allocation of the ₹110 crore has not been publicly broken down.
BGauss Has Previously Reported Revenue Growth Alongside Losses
BGauss’ earlier financial performance shows the challenge of scaling an EV manufacturer.
For FY24, the company reported revenue of approximately ₹178 crore, up from ₹110 crore in FY23, according to Indian Startup News. However, its net loss nearly doubled to approximately ₹49.6 crore.
BGauss Financial Snapshot
| Metric | FY23 | FY24 |
|---|---|---|
| Revenue | ₹110 crore | ~₹178 crore |
| YoY revenue growth | — | ~62% |
| Net loss | — | ~₹49.6 crore |
The numbers underline a common challenge in the EV manufacturing sector: companies need substantial investment in products, manufacturing, distribution and technology before achieving profitability at scale.
The latest report does not provide updated FY25 or FY26 financial figures.
Why The ₹110 Crore Round Matters
The new funding provides BGauss with additional financial runway at a time when the company is attempting to grow its market share.
The combination of founder capital and existing-investor participation is also notable.
Strategic Importance
| Development | Potential Significance |
|---|---|
| ₹110 crore fresh capital | More funding for expansion |
| ₹50 crore founder investment | Strong promoter participation |
| ₹44 crore BVF investment | Continued institutional backing |
| ~₹1,000-1,100 crore valuation | Higher scale of company |
| 5,518 July registrations | Evidence of sales growth |
| 0.3% market share | Large expansion opportunity |
The funding does not guarantee that BGauss will become a major EV manufacturer, but it gives the company additional resources to compete.
The Bigger Picture
BGauss’ ₹110 crore Series D round comes as India’s electric two-wheeler market enters a more competitive phase. The company has demonstrated strong percentage growth in registrations, with 5,518 retail registrations in July 2026, but its 0.3% market share shows that it remains a relatively small participant.
The new financing also represents continued investor support for BGauss’ expansion strategy. Founder Hemant Kabra contributed ₹50 crore, while Bharat Value Fund invested ₹44 crore after previously putting ₹161 crore into the company in 2025. The fresh capital gives BGauss additional resources to expand operations, strengthen its product portfolio and compete with both EV startups and established automotive manufacturers.
Looking Ahead
BGauss’ immediate challenge will be converting its fresh capital into greater sales, stronger distribution and a larger share of India’s electric two-wheeler market. The company’s July registrations show that volumes are growing rapidly, but moving from 0.3% market share to a significantly larger position will require sustained growth against well-funded competitors.
The company’s next phase will also test whether its technology-focused positioning, including AI-enabled systems, IoT integration and fast-charging capabilities, can translate into meaningful consumer demand. With the founder and Bharat Value Fund providing substantial backing, BGauss now has additional capital to pursue its expansion plans. The extent to which that investment improves scale, market share and eventually profitability will determine whether the company’s roughly ₹1,000-1,100 crore valuation can be justified over the long term
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