Electric bike Spero raises over Rs 55 lakh

Spero India's first crowd- funded electric bike - has raised more than Rs 55 lakh with over 160 bookings so far and deliveries of the e-bike will start by the month-end, an official said today. "The first campaign raised Rs 39 lakh and the ongoing second crowd-funding campaign, which will continue for another 15 days, has till date raised Rs 17.4 lakh. There have been more than 160 bookings from across the country," Ranganath Thota, founder and CEO of FuelADream, a Bengaluru-based crowd-funding platform, told reporters here. "Out of the 146 people who have funded the project in the first campaign, 106 have booked the e-bike while 55 out of the 88 funders have booked the e-bike in the second campaign. One wishing of buying the e-bike can buy it through fueladream.com," he said. Delivery of the e-bikes will start from September-end, Thota said. Spero will be able to travel 30km on a single charge, with the battery charging as the rider pedals. Models having range of 60km and 100km (on single charge) are also available. The bike can go from 0-25 kmph in 10 seconds and is equipped with 5 gears in electric mode. All bikes weigh between 25kgs 26 kgs (with the battery) and the ebike has detachable battery for ease of charging. Milltex Engineers, based in Coimbatore, has produced these e-bikes through fueladream.com.