Electric vehicles (EVs) are becoming more and more popular each year, and EV components start-up Nysha Mobility Tech (NMT) is at the forefront of the revolution. Recently, the company raised USD 3.5 million in its seed funding round with participation from Touchstone Ventures, Panthera Peak Capital, and select family offices and angel investors. The funds will be used to optimize the manufacturing process and develop cutting-edge technology such as IoT and AI for NMT’s products.
The company was founded in April 2021 by Siddharth Jain, who brings over 25 years of experience in the EV components and manufacturing space. During the inauguration of NMT’s first manufacturing facility in Nelamangala, Karnataka, Jain spoke about the supply chain issues around imports of EV components that have been affecting the industry.
The EV industry in India is seeing exponential growth and already sales have surpassed 1 million units in 2021. With the current pipeline of clients, Nysha plans to take the industry by storm and expand its product offerings to include charging connectors, charging guns, and charging stations. The company is also taking advantage of the changing global supply chain structure and is positioning itself to become a market leader in the EV components space.
In addition to investments from venture capitalists, the Nysha Mobility team has also received support from family offices and angel investors such as Nikhil Bhandarkar, Kelachandra Family office, Ghanshyam Dass (ex-CEO – Nasdaq Asia), Kanoria Family Office, Kiran Bulla, JCL Family Office, Pahwa family Office, Suraj Sreenath (DreamGains Financial), and a Singapore-based NRI.
The company is also ISO 9001 certified and IATF compliant, and is in the process of receiving BIS, UL, TUV and ARAI certifications for its products.
Siddharth Jain, Founder and CEO of Nysha Mobility Tech, is at the helm of steering this innovative EV components start-up. Jain has been an electro-mechanical engineer for over 25 years and is completely dedicated to providing advanced engineering solutions that meet the needs of customers with minimal delay. He understands that the EV industry is rapidly changing, and is continuously assessing the company’s product and offerings to ensure its relevance both now and in the future.
Nysha Mobility Tech is set to disrupt the EV industry with its innovative technology and agressive strategy. With the right investments and the right people on board, the company’s future looks to be nothing but bright.
