Also starts electric bicycle ops in Ganderbal
Irfan Tramboo
Srinagar, Feb 12: Aiming to expand into 10 more cities over the next three years, Curve Electric-the fastest-growing micro-mobility startup from J&K-has secured one million dollars in funding, with participation from prominent Angel investors.
According to the company, the funding round included notable investors such as Jinesh Shah from Omnivore, Abhishek Agarwal from Accion, seasoned angel investor Komal Nailwal, and Foreign Direct Investment (FDI) from the Netherlands.
“This strategic investment underscores Curve Electric’s potential as a key player in sustainable urban transportation,” the company stated.
The company noted that the funding will fuel its expansion plans and technological advancements, enabling it to scale operations and enhance accessibility.
The investment, it added, reflects its commitment to transforming urban transportation through sustainable mobility solutions, addressing critical challenges like traffic congestion and pollution.
Founded by Sheikh Yameen and Zubair Bhat, Curve Electric is tackling congestion and pollution in tourist cities with its innovative e-bike-sharing platform.
The startup recently appeared on ‘Shark Tank India’, where it gained significant traction and praise for its clear vision and strong business model.
Within just two years of operation, Curve Electric has achieved impressive milestones, including over 60,000 rides, 750,000 kilometers covered, and 150 metric tonnes of carbon emissions offset.
Operating 100 e-bikes across 11 docking stations in Srinagar, the platform boasts a 50% user retention rate, with 80% of its riders being locals and 20% tourists.
“This funding highlights the potential of sustainable innovation in our region. At Curve Electric, we aim not only to preserve the natural beauty of Kashmir but also to redefine mobility for future generations, fostering hope and opportunity for our community,” Sheikh Yameen, co-founder of Curve Electric, said.
Speaking with Excelsior, Yameen said that after establishing electric bicycle operations in Srinagar, the company has now expanded to Ganderbal with nine docking stations.
He also highlighted the startup’s role in employment generation. “Initially, we had 10 people working with us, and now that number has grown to 25. With the additional funding, we expect to create even more job opportunities,” he added.
When asked why the company had not expanded further within Srinagar, Yameen explained that a survey conducted in collaboration with Srinagar Smart City indicated no need for further expansion, leading the company to focus on other areas instead.
Anuj Sharma, founder of ALSiSAR Impact and a key investor in Curve Electric, lauded the company’s efforts, stating: “We aim to empower ventures focused on sustainability. Curve Electric exemplifies how innovation can protect the environment while driving economic growth.”
Looking ahead, Yameen said that the company plans to expand into 10 cities across the Himalayan region within the next three years.
It is also exploring off-grid solutions, such as solar-powered charging stations, to create a fully sustainable e-bike ecosystem.
Additionally, by partnering with hotels and resorts to establish docking stations, Curve Electric aims to promote eco-friendly tourism, further enhancing its positive impact on the local economy and environment.
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