EMotorad appoints former CARS24 executive Himanshu Ratnoo as co-founder

Electric bicycle maker EMotorad has inducted former CARS24 leader Himanshu Ratnoo into its leadership team as co-founder as the company sharpens focus on expansion across domestic and overseas markets.

Himanshu Ratnoo previously spent over five years at CARS24, where he oversaw the company’s used car operations business in India. Following his exit earlier this year, he has now joined EMotorad to drive strategic growth, scale operations, and strengthen the company’s market presence globally.

Founded in 2020, EMotorad builds electric cycles and mobility-focused products catering to urban commuters, fitness enthusiasts, and recreational riders. The company has established operations across multiple international markets including Europe, Japan, Australia, and the UAE alongside its India business.

Over the last few years, EMotorad has steadily expanded its product lineup and retail distribution network. The startup has secured nearly $22.5 million in funding so far from investors such as Panthera Growth Partners, Alteria Capital, and Green Frontier Capital.

In 2023, the company raised $20 million in one of its largest funding rounds to date. It later attracted additional strategic investment from former Indian cricket captain MS Dhoni, who also came onboard as the brand ambassador in 2024.

EMotorad operates in India’s rapidly growing e-cycle segment, competing with brands including Hero Lectro, Nexzu Mobility, and Toutche.