changeadminElectric vehicle maker Okinawa Autotech has secured Rs 60 crore ($7.2 million) in strategic investment from its existing investor, Dhruv Khush Business Ventures.
Founded in 2015 by Jeetender Sharma and Rupali Sharma, Gurgaon-based Okinawa Autotech is one of India’s pioneering electric vehicle (EV) companies.
In 2016, it opened its manufacturing facility in Bhiwadi, Rajasthan and one year later launched its first scooter.
In the last 10 years, the company has launched multiple electric scooter models into its portfolio, including PraisePro, iPraise+, Okhi-90, Ridge+, Lite, and R30.
The company is trying to stay relevant amid stricter norms and rising competition from major electric 2-wheeler manufacturers such as Ola Electric, Ather Energy, Bajaj Auto and other emerging startups.
Okinawa Autotech also faced government scrutiny for importing parts instead of sourcing them locally, violating the FAME scheme guidelines.
The funds are expected to support cash flow, resume production, and address compliance issues related to EV subsidies.
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