Funding Announcement

ElectriQ, operating as Only Electriq Solutions Private Limited and headquartered in Hyderabad, announced the successful closure of its early seed funding round on 11 June 2026. The round attracted capital from Early Seed Ventures, supported by Eisen Enterprises, as well as angel investors and high‑net‑worth individuals, marking the company’s first external capital infusion after remaining bootstrapped since its incorporation in 2021‑22.

Company Background

Founded in the fiscal year 2021‑22, ElectriQ is a profitable electric‑vehicle (EV) mobility OEM and clean‑tech firm that has recorded profitability from its first year of operations. The company is DUNS‑registered and maintains operational hubs in Hyderabad, Bengaluru and Chennai. Its integrated business model spans EV manufacturing and supply‑chain for two‑wheelers, three‑wheelers and small commercial vehicles, an IoT‑based digital recharge platform for fleet management and battery health monitoring, a battery‑as‑a‑service (BaaS) model with fast‑charging and two‑minute swap capability, flexible rental and lease‑to‑own plans for gig workers, and a franchise‑based hub‑and‑spoke network delivering leasing, roadside assistance and servicing.

Impact Metrics

To date, ElectriQ reports a carbon‑footprint offset of 2.1 million kg, fuel savings of 0.65 million litres, more than 25 million kilometres driven and 11.2 million trips completed.

Founder Statement

The Founder & CEO emphasized that the funding will accelerate the goal of placing over 25,000 EVs on the road and positively affecting more than 50,000 riders within the next 36 months, both in India and internationally.

Use of Funds and Growth Roadmap

The capital raised will be allocated to:

  • Scaling domestic operations, leveraging an active order pipeline of 5,000 vehicles for both domestic and overseas customers.
  • Expanding the hub‑and‑spoke network into additional metropolitan and Tier‑2 cities across India.
  • Replicating the proven business model in international markets to drive global expansion.
  • Advancing battery technology under the newly created ‘ElectriQ A’ vertical, which will develop NMC, LFP and solid‑state battery chemistries, incorporate CAN‑enabled battery‑management systems and enable 15‑minute fast‑charge capability.
  • Strengthening the integrated digital platform for real‑time fleet management, battery health monitoring and rider skill development.
  • Targeting INR 150 crore of annual revenue by the end of the 36‑month horizon.

Founder Profile and Social Impact

The founder brings 28 years of domain experience in mobility, automotive and technology, which has underpinned the company’s commercially sustainable and socially inclusive model. ElectriQ’s lease‑to‑own plans, social‑security benefits, job‑guarantee frameworks and dedicated skill‑development programmes aim to uplift India’s gig‑economy workforce, directly impacting over 50,000 riders while eliminating millions of kilograms of carbon emissions during the scale‑up period.

Media Contact

Anand Thakur, Only ElectriQ, Email: invest@electriq.co.in, Website: www.electriq.co.in