Founded by Siddharth Jain in April 2022, Nysha Mobility Tech (NMT) aims to transform the EV manufacturing ecosystem in India by helping address challenges currently faced by manufacturers in the ecosystem. These include combating extreme weather conditions, and high current requirements in conjunction with minimal space, which would lead to a tight bending radius and vibrations in vehicles. Based out of Bangalore, the company is ISO 9001 certified and IATF compliant, and is in the process of receiving BIS, UL, TUV and ARAI certifications for its products.
NMT has raised $3.5 mn in its seed funding round from Touchstone Ventures, Panthera Peak Capital, and select family offices and angel investors. The company’s family office and angel investors include Nikhil Bhandarkar, Kelachandra Family office, Ghanshyam Dass (ex-CEO - Nasdaq Asia), Kanoria Family Office, Kiran Bulla, JCL Family Office, Pahwa family Office, Suraj Sreenath (DreamGains Financial) and a Singapore based NRI.
Nysha Mobility Tech’s manufacturing unit is situated in Nelamangala, Karnataka, and is equipped to cater to the 40+ EV players onboarded in a short span of time. Some of their key customers include Ola Electric, SUN Mobility, SEG Automotive, Log9, Pranav Vikas, Quantum, IGOWISE Green Tiger, Zen Mobility, Violin Technologies, Virya Mobility, and The Energy Company. The company targets to onboard over 100 customers in 2023.
Seed funding round has been led by Touchstone Ventures, Panthera Peak Capital, along with family offices and angel investors
With its newly launched factory, Nysha Mobility Tech focuses on 'Made in India' components to cater to the EV industry
