Srinagar: Curve Electric, a micro-mobility startup headquartered in Jammu & Kashmir, has successfully secured funding at a valuation of USD 1 million, with participation from prominent angel investors. This funding marks a significant milestone for the company, reinforcing its mission to transform urban transportation through sustainable mobility solutions while addressing traffic congestion and pollution in the region, company executive said.
Founded by Sheikh Yameen and Zubair Bhat, Curve Electric operates an innovative e-bike sharing platform aimed at reducing congestion and pollution, particularly in tourist-heavy cities. The funding round saw participation from key investors, including Jinesh Shah from Omnivore, Abhishek Agarwal from Accion, seasoned angel investor Komal Nailwal, and Foreign Direct Investment (FDI) from the Netherlands. This strategic investment highlights Curve Electric’s potential as a major player in the sustainable urban transportation sector.
The fresh capital will be used to scale operations, advance technology, and expand accessibility. Since its launch, Curve Electric has completed over 60,000 rides, covering 750,000 kilometres, and offsetting 150 metric tonnes of carbon emissions. Operating with a fleet of 100 e-bikes across 11 docking stations in Srinagar, the platform has seen a high user retention rate, with 80 per cent of its riders being locals and 20 per cent tourists.
Co-founder Sheikh Yameen expressed optimism about the funding, stating, “This investment is a testament to the potential of sustainable innovation in our region. At Curve Electric, we aim to not only preserve the natural beauty of Kashmir but also redefine mobility for future generations, fostering hope and opportunity for our community.”
ALSiSAR Impact, a key investor, lauded the startup’s vision. “We aim to empower ventures focused on sustainability. Curve Electric exemplifies how innovation can protect the environment while driving economic growth,” said Anuj Sharma, founder of ALSiSAR Impact.
Curve Electric was recently recognised after appearing on Shark Tank India, where its business model received widespread appreciation. Looking ahead, the company plans to expand to 10 cities across the Himalayan region within the next three years. It is also exploring off-grid solutions, such as solar-powered charging stations, to build a fully sustainable e-bike ecosystem. By partnering with hotels and resorts to set up docking stations, Curve Electric aims to promote eco-friendly tourism while contributing to the local economy and environmental conservation.
Sources said they have given a small percentage of the shareholding to the investors and secured an amount that will fuel the start-up growth in next few years.
