Konwert India Motors Secures Pre‑Series A Funding
Konwert India Motors Pvt. Ltd., a Coimbatore‑based electric mobility firm founded in 2019 by Nickendra Manikandan, announced the closing of a pre‑Series A round led by The Chennai Angels (TCA). Existing investors Campus Angels Network, Keiretsu Forum Chennai and Native Angel Network also participated, providing follow‑on capital.
The capital will be deployed to accelerate sales growth, broaden the product portfolio and expand operations into additional Indian cities as well as overseas markets. Konwert’s business model retrofits existing petrol, CNG and LPG auto‑rickshaws into electric vehicles, offering a conversion cost roughly half that of purchasing a new electric three‑wheeler. The patented, magnet‑free motor and conversion process complete the retrofit in about 90 minutes.
Drivers benefit from monthly fuel savings of approximately INR 12,000–15,000, which represents about a quarter of a typical driver’s monthly income, and receive an electric range of up to 213 km on a 10 kWh battery pack. Post‑conversion servicing is supported through roughly 800 myTVS touchpoints across India, and financing for the retrofit is available via four lending partners.
Founder Nickendra Manikandan stated that each converted auto‑rickshaw enables drivers to retain ownership, cut fuel expenses and increase take‑home earnings, and that the new funding will allow the company to scale to more cities, vehicle types and markets. Lead Investor Deepak Reddy of The Chennai Angels highlighted the strategic importance of electrifying transport for India’s energy independence and praised Konwert’s ready‑to‑scale product, processes and partnerships.
Konwert currently operates in India and Sri Lanka and is developing retrofit solutions for light commercial vehicles. The Chennai Angels, founded in 2007, have invested over INR 200 crore across more than 100 start‑ups.