Srinagar, Feb 12: Curve Electric, a fast-growing micro-mobility startup from Jammu and Kashmir, has successfully raised its first investment round, achieving a valuation of $1 million. The funding round saw participation from prominent angel investors, including Foreign Direct Investment (FDI) from the Netherlands, marking a significant milestone for the region’s startup ecosystem.
Founded by Sheikh Yameen and Zubair Bhat, both residents of Ellahibagh, Srinagar, Curve Electric is revolutionizing urban mobility with its e-bike-sharing platform, addressing congestion and pollution in key tourist cities. The investment round included notable investors such as Jinesh Shah from Omnivore, Abhishek Agarwal from Accion, angel investor Komal Nailwal, and ALSiSAR Impact.
Sheikh Yameen while speaking to ANH, said that the funding will be used to expand Curve Electric’s operations, enhance its technology, and increase accessibility. The company recently gained national attention after appearing on Shark Tank India, where it was praised for its vision and business model.
Within just two years of operation, Curve Electric has achieved remarkable success, with over 60,000 rides, 750,000 kilometers covered, and 150 metric tonnes of carbon emissions offset. Operating 100 e-bikes across 11 docking stations in Srinagar, the company boasts a 50% user retention rate, with 80% of its riders being locals and 20% tourists, he said.
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“This funding is a testament to the potential of sustainable innovation in our region,” said Sheikh Yameen, co-founder of Curve Electric. “Our goal is not only to preserve the natural beauty of Kashmir but also to redefine mobility for future generations while creating opportunities for the local community.”
Anuj Sharma, founder of ALSiSAR Impact, also praised the startup’s efforts, stating, “Curve Electric is a shining example of how innovation can drive sustainability while fostering economic growth.”
Looking ahead, Curve Electric plans to expand to 10 cities across the Himalayan region within the next three years. The company is also exploring off-grid solutions such as solar-powered charging stations to establish a fully sustainable e-bike ecosystem. Additionally, Curve Electric aims to partner with hotels and resorts to create docking stations, promoting eco-friendly tourism.
With its innovative approach, Curve Electric is not just transforming mobility in Kashmir but also setting an example for greener, more sustainable cities in India. The fresh investment is expected to accelerate the company’s vision of becoming a leader in the micro-mobility industry.
