AlphaVector, a homegrown startup in India, has announced the launch of its first e-bicycle – Meraki by Ninety One, which is priced at Rs 29,999. The e-bicycle requires no license and is aimed at encouraging millennials and Gen-Z to reclaim the outdoors by leveraging the growing e-bike market in India, as per the company. AlphaVector is backed by Fireside Ventures, Avaana Capital and Titan Capital.
Meraki has already received over 100 pre-booking registrations from cities like Mumbai, Banglore, Delhi, Chennai, Pune, Ahmedabad. Recently, AlphaVector witnessed a 2.5-times growth in its Monthly Revenue Rate (MRR) in the last 6 months (March – September 2020) and a 15% demand-fill rate. It plans to meet its target of 300CR ARR (annual revenue rate) next year by ramping up supplies over the next few months.
As per the company, ‘Ninety One’ is inspired by India’s rich history and embodies its action-oriented and constantly evolving spirit.
Vishal Chopra, Co-Founder, AlphaVector, said, “We are excited to announce the launch of our flagship e-bicycle in India, which we believe is going through a Cycling Revolution. While the pandemic has piqued consumer interest in bicycles, innovation and customer-centricity will be the game-changers in this industry. With the launch of this e-bicycle, we are pedalling the extra mile for each of our riders in an effort to make their every ride better than the last. We also aim to contribute to the adoption of e-bicycles in India in line with the Government’s initiative of introducing smart mobility and ultimately build smarter and sustainable cities for citizens.”
The Meraki comes with a 250 watt, IP 65 (Waterproof raing) BLDC Motor that has a top speed of 25 km/h. The lithium-ion battery with 6.36AH will last, as per the company, 750 cycles of charging and comes with a 1-year warranty. The company goes on to say that one can charge the battery completely in 2.5 hours which offers up to 35 km of range at full charge.
Meraki also comes equipped with e-brakes with automatic brake cut off. Additionally, as per a statement released by the company, the key-lock switch helps avoid tampering and mischief as the bike cannot be turned on without key.
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The e-cycle comes with 4 driving modes – Pedal Assist, Throttle, Cruise and Pedal. The throttle mode makes the e-bicycle work without pedalling like a scooter.
Designed and developed in-house by AlphaVector, Meraki will be available in over 350 cities in India through the company’s retail network of 700 stores as well as online via the company website. It will be available – Black-Red and Silver-Grey colour options. Meraki also comes with a display including battery-level indication and PAS mode control along with an ergonomically designed button. Built with Hi-Tensile steel, the frame is lightweight, and the cycle weighs 22 Kg.
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