Micromax co-founder Rahul Sharma's EV venture Revolt Intellicorp is looking to raise up to $100 million through equity investment to fund product development and expansion into more cities.
It is also working on two new vehicles. Presently, Revolt sells the identical RV300 and RV400 electric motorcycles, it has already sold about 1,500 units since its inception last year
“Our product has been validated in the market and consumer response is good. I think now is the right time for us to get into the growth phase and we will be looking to raise equity capital,” he said.