Industrial Automation Magazine India

AlphaVector announces the launch of its first e-bicycle in India

Published on : Friday 06-11-2020

E-bike market globally is touted to cross dollar38.6 billion in 2025, AlphaVector looks to cater to that growing segment in India with its latest offering.

New Delhi, November 05, 2020: AlphaVector, a home-grown startup championing the cause of Cycling and Active Lifestyle in India, has announced the launch of its first e-bicycle in India – Meraki by Ninety One. Launched within the price of 29,999/-, the e-bicycle requires no license and is aimed at encouraging millennials and Gen-Z to reclaim the outdoors by leveraging the growing e-bike market in India. With this launch, AlphaVector sets foot into the global e-bicycle market touted to cross $38.6 billion in 2025. The company taps into the rapidly growing Indian electric 2-wheeler segment. Meraki has already received 100+ pre-booking registrations from cities like Mumbai, Banglore, Delhi, Chennai, Pune, Ahmedabad. The pandemic induced inclination towards cycling as a lifestyle necessity has further acted as a catalyst for the segment. Recently, AlphaVector witnessed a 2.5x growth in its Monthly Revenue Rate (MRR) in the last 6 months (March-September 2020) and a 15% demand-fill rate. It plans to meet its target of 300CR ARR (annual revenue rate) next year by ramping up supplies over the next few months.

'Ninety One' is inspired by India's rich history and embodies its action-oriented and constantly evolving spirit. 'Ninety One' enables you to leap into an active lifestyle, breaking away from a sedentary way of life becoming a symbol of positive change in the lives of Indians. AlphaVector is backed by Fireside Ventures, Avaana Capital and Titan Capital.

Mr Vishal Chopra, Co-Founder, AlphaVector, said, "We are excited to announce the launch of our flagship e-bicycle in India, which we believe is going through a Cycling Revolution. While the pandemic has piqued consumer interest in bicycles, innovation and customer-centricity will be the game-changers in this industry. With the launch of this e-bicycle, we are pedalling the extra mile for each of our riders in an effort to make their every ride better than the last. We also aim to contribute to the adoption of e-bicycles in India in line with the Government's initiative of introducing smart mobility and ultimately build smarter and sustainable cities for citizens."

Built using world-class components, state-of-the-art EV technology, engineered for safety and endurance, and coupling style with comfort, Meraki comes with a 250 watt, IP 65 (Waterproof) BLDC Motor that has a top speed of 25 kmph. The lithium-ion battery with 6.36AH will last 750 cycles of charging and comes with a 1-year warranty. One can charge the battery completely in 2.5 hours which offers up to 35 km at full charge. With safety in mind, Meraki comes equipped with e-brakes with automatic brake cut off. Moreover, the key-lock switch helps avoid tampering and mischief as the bike cannot be turned on without key. Interestingly, it comes with 4 driving modes - Pedal Assist, Throttle, Cruise and Pedal. The throttle mode makes the e-bicycle work without pedalling like a scooter.

Designed & developed in-house by AlphaVector, Meraki will be available across 350+ cities in India through the company's strong retail network of 700 stores as well as online via the company website. It will be available in trendy colours and styles like - Black-Red and Silver -Grey. Meraki also comes with a unique display including battery-level indication and PAS mode control and ergonomically designed button. The charger-pin placed near the head tube is easily accessible. Built with Hi-Tensile steel the frame is lightweight and strong, weighs 22kg ensuring convenience.