HYDERABAD, INDIA, June 11, 2026 : ElectriQ (Only Electriq Solutions Private Limited), a Profitable leading Electric Vehicle (EV) Mobility OEM and clean-tech company headquartered in Hyderabad, today announced the successful closure of its Early Seed funding round. The round witnessed participation from Early Seed Ventures, supported by Eisen Enterprises, Angel Investors, and High Net-worth Individuals (HNIs), marking a pivotal milestone for the company as it prepares to scale its proven EV ecosystem model globally.
Founded in 2021–22, ElectriQ has achieved a rare distinction in India's startup landscape — profitability since its very first year of operations — entirely through bootstrapped means until March 2026. This fundraise marks the company's first external capital infusion, signalling strong investor confidence in its asset-light yet deeply integrated business model. The firm is moving towards vertical integration, digitized entire back end operations.
About ElectriQ: Mobility & Energy Player Building India's EV Ecosystem
ElectriQ is an EV Mobility OEM focused on empowering India's gig and last-mile delivery workforce through affordable, sustainable, and digitally connected electric vehicle solutions. The company has built a comprehensive and a robust Business Model , end-to-end EV ecosystem spanning:
● EV Manufacturing & Supply Chain – Vehicle manufacturing/assembly, localisation, and homologation for 2W, 3W, and Small Commercial Vehicles (SCV)
● Digital Recharge Platform – An IoT-based integrated platform enabling fleet management, battery health monitoring, data analytics, and rider management
● Battery Swapping & Leasing – Addressing range anxiety through a battery-as-a-service (BaaS) model with fast charging and 2-minute battery swap capabilities
● Rental & Lease-to-Own Plans – Flexible EV subscription and rental plans for gig workers, enabling financial inclusion and vehicle ownership
● Franchise & Hub-and-Spoke Network – Pan-India hubs in Hyderabad, Bengaluru, and Chennai offering vehicle leasing, roadside assistance, and servicing
Impact at a Glance
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Carbon Footprint Offset
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Fuel Saved
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Kilometres Driven
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Trips Completed
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2.1 Mn Kg
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0.65 Mn Litres
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25+ Mn Kms
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11.2 Mn
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"ElectriQ was built on the conviction that sustainable mobility must be financially viable for both the operator and the rider. Having remained profitable since inception without external capital is a testament to our model's resilience. This funding round accelerates our mission to put 25,000+ EVs on the road and impact over 50,000 riders over the next 36 months — in India and globally."
— Founder & CEO, ElectriQ
Use of Funds & Growth Roadmap
The proceeds from this fundraise will be deployed towards scaling ElectriQ's multi-pillar growth strategy:
● Scaling domestic operations with an active order pipeline of 5,000 vehicles (domestic and overseas)
● Expanding the Hub-and-Spoke network across key metros and Tier-2 cities in India
● Accelerating global expansion by replicating the proven business model in international markets
● Advancing battery technology under the proposed 'ElectriQ A' vertical, covering NMC, LFP, and Solid State batteries with CAN-enabled BMS and 15-minute fast-charge capability
● Strengthening the integrated digital platform for fleet management, real-time battery health monitoring, and skill development for riders
● Targeting INR 150 Crore in annual revenue over the next 36 months
Founder Profile: 28 Years of Domain Experience
ElectriQ is helmed by a founder with 28 years of deep domain expertise in mobility, automotive, and technology. This extensive experience has been instrumental in building a business that is not only commercially sustainable from Day 1 but also socially impactful — providing financial inclusion, insurance, and skill development for India's underserved gig-economy riders.
Social Impact & Financial Inclusion at the Core
Beyond commercial metrics, ElectriQ's model is engineered to uplift India's gig workforce. Through flexible lease-to-own plans, social security benefits, job guarantee frameworks, and a dedicated skill development programme, ElectriQ bridges the gap between affordable clean-energy transportation and economic empowerment. The company aims to directly impact over 50,000 riders while eliminating millions of kilograms of carbon emissions over its 36-month scale-up horizon.
About Only Electriq Solutions Private Limited
ElectriQ is an EV Mobility OEM and clean-tech company headquartered in Hyderabad, India. Founded in 2021–22, the company offers an integrated ecosystem of electric vehicles, digital fleet management, battery swapping and leasing, ride rentals, roadside assistance, and skill development. With operations across Hyderabad, Bengaluru, and Chennai, ElectriQ is on a mission to become the largest electric mobility provider for last-mile and mid-mile delivery in India and global markets. The company is DUNS Registered and has been profitable since inception.
Media Contact
Anand Thakur | Only ElectriQ
Email: invest@electriq.co.in
Website: www.electriq.co.in
