After delivering its pitch in the coveted “Shark Tank India Season 4”, Srinagar-based Curve Electric, which specialises in being a micro-mobility startup, has successfully secured funding at a valuation of USD 1 million, with participation from prominent angel investors.
The funding milestone is vital for Curve Electric’s objective of transforming urban transportation through sustainable mobility solutions while focussing on traffic decongestion and overcoming air pollution in the Valley. Founded by Sheikh Yameen and Zubair Bhat, Curve Electric aims to address the issue of congestion and pollution in tourist cities with its e-bike-sharing platform.
The funding round, where Curve Electric has secured funding at a valuation of USD 1 million, included notable investors such as Jinesh Shah from Omnivore, Abhishek Agarwal from Accion, seasoned angel investor Komal Nailwal, and Foreign Direct Investment (FDI) from the Netherlands, said a company spokesperson. This strategic investment underscores Curve Electric’s potential as a key player in sustainable urban transportation, he added.
“The funding will fuel Curve Electric’s expansion plans and technological advancements, enabling the startup to scale its operations and enhance accessibility,” said the spokesperson.
Notably, the company recently appeared on Shark Tank India, due to which it came in the news for its pitch as a strong business model.
In an interaction, Sheikh Yameen told that within just two years of operation, Curve Electric has achieved impressive milestones with over 60,000 rides, 750,000 kilometers covered, and 150 metric tonnes of carbon emissions offset.
Yameen said operating 100 e-bikes across 11 docking stations in Srinagar, the platform boasts a 50 per cent user retention rate, with 80 per cent of its riders being locals and 20 per cent tourists.
“This funding is a testament to the potential of sustainable innovation in our region. At Curve Electric, we aim to not only preserve the natural beauty of Kashmir but also redefine mobility for future generations, fostering hope and opportunity for our community,” said Sheikh Yameen, co-founder of Curve Electric.
ALSiSAR Impact, a key investor and supporter of Curve Electric, lauded the company’s efforts. “We aim to empower ventures focused on sustainability. Curve Electric exemplifies how innovation can protect the environment while driving economic growth,” said Anuj Sharma, founder of ALSiSAR Impact.
In terms of its future plans, Curve Electric plans to expand to ten cities across the Himalayan region within the next three years. The company is also exploring off-grid solutions like solar-powered charging stations to create a fully sustainable e-bike ecosystem. By partnering with hotels and resorts to establish docking stations, Curve Electric aims to promote eco-friendly tourism, further enhancing its positive impact on the local economy and environment.
Curve Electric’s innovative approach is transforming mobility in Kashmir while inspiring a broader shift towards greener cities. This funding achievement propels the startup toward becoming a flagship example of sustainable innovation in the micro-mobility industry.
