The Chennai Angels invests Rs 2.6 crore in Blaer Motors

Chennai: Blaer Motors, an NIT Trichy-incubated startup based in Chennai, has raised Rs 2.61 crore from angel investor group The Chennai Angels (TCA).
Blaer Motors said it will be utilizing this fund mainly for infrastructure development, strengthening of R&D team and technology development. The startup said its focus is to further optimize the hybrid technologies for motorcycles and expand product portfolio into three-wheelers and LCVs.
Founded by four engineering students, Blaer Motors builds and develops technological solutions in the transportation and mobility space. Blaer has been working on hybrid and electric drivetrain solutions for two-wheelers and three-wheelers and collaborating with multiple OEMs for commercializing the drivetrain solutions.
Launched in 2014, Blaer Motors started with initial funding and incubation support from NIT Trichy. The startup’s patented technology -Blaer Hybrid Solution- is a plug-in technology for green mobility.
“This is our first round of external investment and we are very excited about this partnership with The Chennai Angels who share our vision towards sustainable mobility. We are thankful to our investors for believing in Blaer and we value their expertise in the automotive industry, which will help us to further our products and business strategies and strengthen our position in the market,” Abinesh Ekambaram, co-founder, Blaer Motors, said.
“Blaer Motors came across as an innovation driven and technologically robust company working on developing hybrid technology for two & three-wheeler vehicles. This hybrid technology will help in both enhanced performance and fuel efficiency of the vehicles,” Vasantha Kumar, head business development, ABAN Infrastructure, and TCA’s investment director led this round of fundraise, said.