GoZero raises $2,50,000, plans to launch lifestyle products
British electric bicycle-maker GoZero Mobility is looking to strengthen its presence in the Indian market with the opening of retail outlets across the country and will also be entering the lifestyle segment for growth.
The company has already raised $2, 50,000 (Rs 1.72 crore) with Kolkata-based Kirti Solar and will be launching its range of lifestyle products which will include apparel and accessories in the coming months.
The company will strengthen its retail presence with the addition of more than 1,000 retail outlets in the next two years. It plans to invest the funds raised for its marketing and manufacturing activities.
“By the end of this year, we are looking at closing the VC-level funding,” Ankit Kumar, GoZero CEO, told BusinessLine.
“GoZero will also launch its range of lifestyle products including T-shirts, sweatshirts, wallets, belts, etc. The company plans to add more than 1,000 retail outlets in the next two years,” he added.
GoZero manufactures e-bicycles and had recently entered the Indian market with the launch of two e-bicycles in India — Go Zero One and GoZero Mile.
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