When was Hero Electric founded?

Hero Electric was founded in 2007 and raised its 1st funding round 6 years after it was founded.

Where is Hero Electric located?

Hero Electric is headquartered in Gurugram, India. It is registered at 50, Okhla Industrial Estate, Phase III, New Delhi, Delhi, India, 110020.

Which legal entities is Hero Electric associated with?

Hero Electric is associated with HERO ELECTRIC VEHICLES PRIVATE LIMITED.

How many employees does Hero Electric have?

As of Jun 30, 2026, the latest employee count at Hero Electric is 758.

Is Hero Electric a funded company?

Hero Electric is a funded company, having raised a total of $130M across 9 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Mar 29, 2013.

How much is Hero Electric worth?

The latest valuation of Hero Electric is $***** as of Nov 03, 2023.

When was the latest funding round of Hero Electric?

Hero Electric's latest funding was a $***** Series B round on Jun 22, 2023, with participation from 3 investors.

What is the annual revenue of Hero Electric?

Annual revenue of Hero Electric is between ₹500 Cr and ₹1,000 Cr as on Mar 31, 2023

Where does Hero Electric rank among its competitors?

Hero Electric ranks 14th amongst 519 active competitors, of which 58 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was BGauss, which secured $11.6M in Aug, 2026.

Who are the top competitors of Hero Electric?

Hero Electric's top competitors include Ather Energy, Gogoro and Oben Electric. Among them, BGauss secured the most recent funding round in August, 2026.

Hero Electric - 2026 Company Profile, Team, Funding, Competitors & Financials

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
Part Of
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

Series B, Jun 22, 2023, $*****

Post Money Valuation

$***** as on Nov 03, 2023

Investors

GII & 55 more

Ranked

14^th among 519 active competitors

Annual Revenue

₹500 - ₹1,000 Cr as on Mar 31, 2023

Employee Count

758 as on Jun 30, 2026

Similar Companies

Ather Energy & 660 more

View Hero Electric's full profile

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)

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 52 institutional investors and 4 angel investors.

Here is the list of recent funding rounds of Hero Electric:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 22, 2023	6128222	Series B	1130872	7587235	7516564	2659150
2022	6772	Series B	7645	1044	8100	8322
Jul 08, 2021	6920339	Series B	1950967	5885650	Vocean & 1 more	Camil Investments & 1 more

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View details of Hero Electric's funding rounds and investors

The 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
Gaurav Munjal	Team	-	Current	16y 1m
Vijay Munjal	Team	-	Current	16y 1m
i{bqehj	Team	-	Past	2y 1m
Vishal Ramesh Ootam	Independent board member	-	Current	7y 9m

View details of Hero Electric's Founder profiles and Board Members

Hero Electric's employee count trend

Hero Electric has 758 employees as of Jun 26. Here is Hero Electric's employee count trend over the years:

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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:

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	Hero MotoCorp, NIIF & 40 others	85/100
2nd	Gogoro 2011, Taipei (Taiwan), Public	Platform offering electric scooters and operator of battery swapping networks	$765M	Sumitomo Corporation, Generation Investment Management ... & 15 others	77/100
3rd	Oben Electric 2020, Bengaluru (India), Series A	Platform offering two wheeler motorcycle products	$37.6M	India Ev Angels, Stride Ventures & 87 others	75/100
4th	Ultraviolette 2016, Bengaluru (India), Series E	Manufacturer of electric motorcycles, components, rider safety equipment, and charging infrastructure	$101M	TVS Motor, Qualcomm Ventures & 48 others	74/100
5th	BGauss 2020, Mumbai (India), Series D	Manufacturer of electric scooters designed for urban and developing environments	$42.7M	RR Global, Bharat Value Fund & 18 others	71/100
6th	Simpl Energy 2019, Bengaluru (India), Series B	Manufacturer of electric scooters designed for urban and long-distance travel	$98.9M	Vasavi Green Tech, Srinivas Balajee Enterprise ... & 131 others	67/100
7th	Motovolt 2019, Kolkata (India), Seed	Manufacturer of electric bicycles mopeds and smart battery powered scooters	$1.92M	WAMI Capital, Sivaswamy Holdings & 22 others	66/100
8th	Rideriver 2020, Bengaluru (India), Series C	Manufacturer of electric scooters designed for personal and professional use	$174M	Maniv Mobility, Al-Futtaim & 20 others	65/100
9th	Ola Electric 2017, Bengaluru (India), Public	Manufacturer of electric scooters, motorcycles, and energy storage solutions	$1B	Temasek, SoftBank & 72 others	65/100
10th	Bounce Infinity 2014, Gurugram (India), Series F	Electric scooter brand and mobility company	$226M	Accel, B Capital & 51 others	65/100
14th	Hero Electric 2007, Gurugram (India), Series B	Manufacturer offering electric scooters and mobility solutions	$130M	Asas Capital, L N Bangur Group & 54 others	67/100

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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	6914507	2641098	6790036	8549956
Naveen Munjal	6289782	1054553	1938005	4554015	4409553	3113422
Fund	28.68%	474Cr	8965630	2257947	6838993	7212229
Vocean	2683849	6462233	9409165	2463707	6194588	7878657
OAKS	1605370	7428983	5644408	7188436	2229361	5129331
Enterprise	24.61%	407Cr	1895910	1604208	9973374	4963304
ESOP Pool	0.51%	8.37Cr	0	0	0	0
Total	100.00%	1,650Cr	9846294	5137752	1711876	4929546