India, Jan. 14 -- Mumbai-based electric vehicle startup BGauss has reportedly secured a funding of INR 161 Cr (around $18.6 Mn) from Bharat Value Fund (BVF) in a mix of primary and secondary transactions.

As per an ET report, the funding will be used to strengthen the Pune-based company's footprint in both domestic and international markets.

It also plans to allocate the funds towards capital expenditure, marketing efforts, and enhancing in-house research and development (R&D) for upcoming product launches.

"This funding will accelerate our mission to be among the top five EV two-wheeler players and bring cutting-edge, reliable electric scooters to the market," Hemant Kabra, founder and managing director of BGauss told ET.

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