EMotorad inducts former Cars24 CEO Himanshu Ratnoo as co-founder

Electric cycle startup EMotorad has inducted former Cars24 CEO Himanshu Ratnoo as co-founder, saying the move will help strengthen institutional-grade leadership as the company expands across global markets, mass mobility, and new product categories.

Founded in 2020, EMotorad has built a network of over 800 dealerships, operates in more than 18 countries, and offers products across segments including kids, commuters, micromobility, health, and leisure.

"Building EMotorad from zero has been incredibly rewarding. We started with a dream and a garage, and now we are shipping cycles to 18 countries. Himanshu brings a rare combination of scale and deep consumer instinct that this phase demands. Having him in the founding team is a big deal for us," said Rajib Gangopadhyay, Founder, EMotorad.

The company has raised a total of $25 million in funding so far from investors including Panthera Growth Partners, Alteria Capital, and Green Frontier Capital. It also counts former India cricket captain MS Dhoni among its brand ambassadors and investors.

"What EMotorad has built is genuinely exciting. Europe has already scaled 5X in a matter of months. The export pipeline is already attracting large strategic partners….We have a brand with real momentum, real distribution, and a product that works across markets. My job is to make sure we show up at the scale this opportunity deserves," said Himanshu Ratnoo, Co-ofunder, EMotorad. Ratnoo spent five years at used-car platform Cars24 and stepped down as CEO in March this year.

"When Rajib and I started EMotorad, we were two guys with a big bet and a lot of conviction. Six years later, that bet is paying off. We continue to dominate the India market and see immense potential overseas,” said Kunal Gupta, Co-Founder & CEO, EMotorad.