Hyderabad, India - RACEnergy, a leading motor vehicle manufacturing company, has announced that it has raised $3,000,000 in a Pre-Series A funding round. The funding round was led by Micelio Mobility, growX Ventures, and Huddle. With this funding, RACEnergy plans to continue its mission to power the future of mobility through clean and efficient technologies.

Founded by Arun Sreyas Reddy, RACEnergy is committed to building a Smart, Connected, and Sustainable mobility ecosystem. The company is focused on providing holistic technology solutions for 2W and 3W vehicles to go electric as they are the most extensively used modes of transportation in India.

RACEnergy's unique Battery Swap Stations and Swappable batteries are provided as a service through a network of connected swapping stations. The company's goal is to set up the most extensive battery-swapping network in India and establish a presence in other continents by 2023.

Commenting on the funding round, Arun Sreyas Reddy, Founder of RACEnergy, said: "We are thrilled to have Micelio Mobility, growX ventures, and Huddle on board as our investors. This funding will help us accelerate our mission to make mobility smarter, more connected, and more sustainable. With this investment, we plan to expand our battery swapping network and increase our presence in other continents, providing clean and efficient mobility solutions to more people."