Hero Electric - About the company
Hero Electric is a series B company based in Gurugram (India), founded in 2007 by Naveen Munjal and Dayanand Munjal. It operates as a Manufacturer offering electric scooters and mobility solutions. Hero Electric has raised $130M in funding from investors like GII, Vocean and SLK Software, with a current valuation of $*****. The company has 508 active competitors, including 52 funded and 13 that have exited. Its top competitors include companies like Ather Energy, Gogoro and Oben Electric.
Company Details
Manufacturer offering electric scooters and mobility solutions. It designs and produces zero-emission two-wheelers focused on efficient urban transportation. The company manages the full production process, from component design to vehicle assembly.
- Website
- heroelectric.in
- Social
- Registered Address
- 50, Okhla Industrial Estate, Phase III, New Delhi, Delhi, India, 110020
Key Metrics
Founded Year
2007
Location
Gurugram, India
Stage
Series B
Total Funding
$130M in 9 rounds
Latest Funding Round
Post Money Valuation
$***** as on Nov 03, 2023
Ranked
15th among 508 active competitors
Annual Revenue
₹500 - ₹1,000 Cr as on Mar 31, 2023
Employee Count
759 as on May 31, 2026
Similar Companies
Legal entities associated with Hero Electric
Hero Electric is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
HERO ELECTRIC VEHICLES PRIVATE LIMITED CIN: U34200DL2010PTC206520 , India, Under CIRP | Jul 31, 2010 | ₹500 - ₹1,000 Cr (As on Mar 31, 2023) | 329 (As on Jan 01, 2024) |
Sign up to download Hero Electric's company profile
Hero Electric's funding and investors
Hero Electric has raised a total funding of $130M over 9 rounds. Its first funding round was on Mar 29, 2013. Its latest funding round was a Series B round on Jun 22, 2023 for $*****. 3 investors participated in its latest round. Hero Electric has 49 institutional investors and 4 angel investors.
Here is the list of recent funding rounds of Hero Electric:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jun 22, 2023 | 9002584 | Series B | 8745476 | 8948989 | 1671060 | 2297074 |
2022 | 3142 | Series B | 3220 | 4946 | 2014 | 7499 |
Jul 08, 2021 | 1341606 | Series B | 4379358 | 8589439 |
Access funding benchmarks and valuations. Sign up today!View details of Hero Electric's funding rounds and investors
Hero Electric's founders and board of directors
Founder? Claim ProfileThe founders of Hero Electric are Naveen Munjal and Dayanand Munjal.
Here are the details of Hero Electric's key team members:
- Naveen Munjal: Managing Director of Hero Electric. They are also an angel investor in 9 startups and serve on the board of 1 company.Contact Info: 1 email address
- Dayanand Munjal: Former Co-Founder of Hero Electric and founder of 1 other company. Contact Info: 1 email address
Hero Electric's Board of Directors
Hero Electric's board has 4 active members. Gaurav Munjal, Naveen Munjal and Vijay Munjal are part of team and Vishal Ramesh Ootam is independent board member.Here is the list of Hero Electric's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 15y 11m | |
Team | - | Current | 15y 11m | |
gyodbns | Team | - | Past | 9y 4m |
Independent board member | - | Current | 7y 6m |
View details of Hero Electric's Founder profiles and Board Members
Hero Electric's employee count trend
Hero Electric has 759 employees as of May 26. Here is Hero Electric's employee count trend over the years:
Uncover Hero Electric's growth story! Sign up today!
Access Tracxn on any website
Install Tracxn ExtensionOur Google Chrome extension lets you view company details while browsing their websites
Hero Electric's Competitors and alternates
Top competitors of Hero Electric include Ather Energy, Gogoro and Oben Electric. Here is the list of Top 10 competitors of Hero Electric, ranked by Tracxn score:
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!
Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Ather Energy 2013, Bengaluru (India), Public | Manufacturer of smart electric scooters with connected software, charging infrastructure, and ecosystem services | $502M | 85/100 | |
2nd | Platform offering electric scooters and operator of battery swapping networks | $765M | 77/100 | ||
3rd |  Oben Electric 2020, Bengaluru (India), Series A | Platform offering two wheeler motorcycle products | $37.6M | 75/100 | |
4th |  Ultraviolette 2016, Bengaluru (India), Series E | Manufacturer of electric motorcycles, components, rider safety equipment, and charging infrastructure | $149M | 74/100 | |
5th | Manufacturer of electric scooters designed for urban and developing environments | $31.1M | 70/100 | ||
6th |  Simpl Energy 2019, Bengaluru (India), Series B | Manufacturer of electric scooters designed for urban and long-distance travel | $98.9M | 67/100 | |
7th |  Ola Electric 2017, Bengaluru (India), Public | Manufacturer of electric scooters, motorcycles, and energy storage solutions | $1B | 66/100 | |
8th | Platform offering electric motorcycles | $15.9M | 66/100 | ||
9th | Manufacturer of electric bicycles mopeds and smart battery powered scooters | $1.92M | 66/100 | ||
10th |  Bounce Infinity 2014, Gurugram (India), Series F | Electric scooter brand and mobility company | $226M | 65/100 | |
15th | Hero Electric 2007, Gurugram (India), Series B | Manufacturer offering electric scooters and mobility solutions | $130M | 58/100 |
_MqTM4SBlijKEXhEsh9nkF.jpg?devicePixelRatio=2&height=30&width=30){kind=logo}
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on Hero Electric's competitors? Click here to see the top ones
Hero Electric's Latest cap tables and shareholding
Founders (largest shareholder) own 46.20%, Funds own 28.68%, Enterprises own 24.61% and ESOP Pool own 0.51%. The net worth of Hero Electric's founders is INR 764Cr as of Nov 03, 2023.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 46.20% | 764Cr | 2338562 | 2237574 | 7439725 | 9498358 |
2589963 | 5855646 | 5940001 | 4006331 | 3080771 | 2032327 | |
Fund | 28.68% | 474Cr | 8232077 | 1561609 | 4810700 | 7667059 |
7384118 | 4337777 | 9063641 | 6953622 | 4226623 | 5240536 | |
2616165 | 7878461 | 9528782 | 1176873 | 5443029 | 7911063 | |
Enterprise | 24.61% | 407Cr | 1612911 | 2687327 | 7485397 | 8223881 |
ESOP Pool | 0.51% | 8.37Cr | 0 | 0 | 0 | 0 |
Total | 100.00% | 1,650Cr | 9823434 | 7592939 | 9618179 | 6410581 |
To unlock detailed Cap Table of Hero Electric Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Hero Electric's Shareholding
Hero Electric's Investments and acquisitions
Hero Electric has made no investments or acquisitions yet.
Reports related to Hero Electric
Here is the latest report on Hero Electric's sector:
News related to Hero Electric
Filter this list•
•
•
•
•
Hero Electric Unveils New A2B Brand For Premium Electric Vehicle SegmentElectronicsB2B•Sep 01, 2023•Hero Electric
•
•
Hero Electric IPO: CEO Sohinder Gill reveals listing plans; check detailsLivemint•May 15, 2023•Hero Electric
•
Hero Electric: No Subsidy Recovery Notice Received; Looking Forward To A ResolutionCarandbike•May 01, 2023•Hero Electric
•
Hero Electric partners with Alt Mobility to deploy 10,000 e2WsMotownIndia•May 01, 2023•Alt Mobility, Hero Electric
•
Get curated news about company updates, funding rounds, M&A deals and others. Sign up today!Are you a Founder ?
FAQs about Hero Electric
Explore our recently published companies
- Wisdom Square Technologies - New Hyde Park based, 2008 founded, Unfunded company
- Fruverpack - Almoradi based, 1992 founded, Unfunded company
- AERA - Bouxwiller based, 1979 founded, Unfunded company
- Divine Hindu - Ujjain based, 2023 founded, Unfunded company
- Globaldigitalpartner.com - 2013 founded, Unfunded company
- OROK - Bourgoin Jallieu based, 2018 founded, Deadpooled company
