Odysse Electric Vehicles
Developer of electric scooters and motorbikes
Website: https://odysse.in
Cover Block
| Field | Value |
|---|---|
| Name | Odysse Electric Vehicles |
| Tagline | Developer of electric scooters and motorbikes |
| Headquarters | Mumbai, India |
| Founded | 2020 |
| Stage | Pre-Seed |
| Business Model | B2C (with a recently disclosed B2B fleet supply component) |
| Industry | Cleantech / Electric Mobility |
| Technology Type | Hardware (electric two-wheelers) |
| Geography | South Asia |
| Growth Profile | Venture Scale |
| Funding Label | Undisclosed |
Links
- Website: https://odysse.in/
- About page: https://odysse.in/about-us/
- Crunchbase: https://www.crunchbase.com/organization/odysse-electric-vehicles
- Tracxn profile: https://tracxn.com/d/companies/odysse/__8EOFI0nqMsq5AYFSoxyZ0B4mHx70xe3nYPOfdRGmOl4
Executive Summary
Odysse Electric Vehicles is a Mumbai-based electric two-wheeler manufacturer that has spent five years building a multi-product portfolio in one of the world's most contested EV markets. It now sits inside a supply agreement with last-mile mobility operator Zypp Electric that materially changes its commercial profile [Autocar Professional]. Founded in 2020 by Nemin Vora, the company started as a low-speed scooter brand and has since expanded into faired electric motorcycles such as the Evoqis Lite and urban commuter scooters such as the HyFy [Times of India] [News18]. Its differentiation rests on accessible price points and a broader-than-typical product range: the company describes more than half a dozen vehicles on sale, against a planned production footprint of 40,000 units per year [Times of India]. The founder remains CEO. On the capital side, Odysse was profiled by Tracxn as an unfunded company through 2024 before disclosing an investment from Zypp Electric on 18 November 2024 alongside an order for 40,000 EVs to be delivered over three years [CBInsights, November 2024] [Autocar Professional]. Over the next 12 to 18 months the watch items are clear: ramp execution against the Zypp order, conversion of the Flipkart online distribution tie-up into measurable retail volume [The Hindu], and any follow-on equity round that would convert the current pre-seed status into a fundable growth story.
Data Accuracy: GREEN -- Confirmed by Tracxn, Crunchbase, Autocar Professional and Times of India.
Taxonomy Snapshot
| Axis | Value |
|---|---|
| Stage | Pre-Seed |
| Business Model | B2C with B2B fleet supply |
| Industry / Vertical | Cleantech / Electric Two-Wheelers |
| Technology Type | Hardware |
| Geography | South Asia (India) |
| Growth Profile | Venture Scale |
| Funding | Undisclosed (one round, November 2024) |
How the Company Got Here
Odysse Electric Vehicles was incorporated in 2020 in Mumbai with Nemin Vora as founder and chief executive [Crunchbase] [Business Standard]. The company entered the Indian market during a period in which the FAME-II subsidy regime and rising fuel prices were pulling new entrants into the electric two-wheeler category. Its early positioning was built around a portfolio of low-speed scooters that did not require vehicle registration.
The company's public milestones, taken in chronological order, sketch a steady rather than explosive trajectory. In September 2020 Vora told Business Standard the company intended to double its product portfolio by the end of 2021 and expand its dealer network to 25 cities [Business Standard]. By early 2023, Times of India reported that Odysse had more than half a dozen vehicles on sale and was planning a new plant with 40,000 units of annual capacity, with high-speed product launches in the pipeline [Times of India]. In 2023 the company added an online distribution channel through a tie-up with Flipkart for pre-booking and purchase of its electric two-wheelers [The Hindu] [carandbike]. On 18 November 2024 Odysse disclosed an investment from last-mile delivery operator Zypp Electric paired with a 40,000-unit EV order to be supplied over three years, an arrangement that converts a portion of the planned plant capacity into contracted demand [Autocar Professional] [Pi-India] [Rediff Moneynews]. In 2025 the company introduced two new models, the Evoqis Lite faired electric motorcycle and the HyFy urban scooter (priced from Rs 42,000), and reported 43 percent year-on-year sales growth in May 2025 [Times of India] [News18] [Autocar Professional].
Data Accuracy: GREEN -- Confirmed by Business Standard, Times of India, The Hindu and Autocar Professional.
Product and Technology
Odysse sells a portfolio of electric scooters and motorcycles aimed at Indian urban and semi-urban commuters. The price ladder is anchored at the entry end by low-speed scooters and extends up into a faired electric motorcycle launched in 2025. The company's own website describes the line-up as "smart and eco-friendly rides" and the About page positions Odysse as a participant in India's electric mobility transition [Odysse Electric Vehicles]. Press coverage confirms more than half a dozen models on sale and ongoing portfolio expansion [Times of India].
The two most recently disclosed products give the clearest read on direction. The Evoqis Lite is a faired electric motorcycle launched with a claimed 90 km range and is positioned by Autocar Professional as a high-performance option at an accessible price point [Times of India] [Autocar Professional]. The HyFy is a low-speed electric scooter for urban commuting, launched at a starting price of Rs 42,000. This places it firmly in the price-sensitive first-time-buyer segment that has historically driven volume in Indian EV two-wheelers [News18]. Together these two launches indicate a barbell strategy: defend the entry-level scooter category that built the brand, while testing whether Odysse can credibly compete one tier up against established motorcycle nameplates.
On distribution, Odysse runs a dealer network whose most recent publicly disclosed scale was a stated target of 25 cities in 2020 [Business Standard]. This is augmented by an online sales channel through Flipkart since 2023 [The Hindu] [carandbike]. The Zypp supply agreement implies the company believes its production line can absorb a meaningful fleet order alongside retail demand [Autocar Professional].
Data Accuracy: YELLOW -- Product launches and pricing confirmed by Times of India, News18 and Autocar Professional; underlying technology stack not in cited public sources.
Market Research and Opportunity
India's electric two-wheeler market is the most consequential single battleground in global electric mobility outside of China, both because of its absolute volume and because two-wheelers account for the majority of personal vehicle trips in the country.
The demand backdrop is shaped by three forces visible in the cited record. First, central and state subsidy regimes (most prominently the FAME-II programme that ran through 2024 and successor schemes) have compressed the sticker-price gap between electric and ICE scooters. This is the single biggest determinant of adoption among first-time buyers, the buyer profile that Odysse's HyFy at Rs 42,000 is engineered for [News18]. Second, last-mile delivery and quick-commerce fleets have emerged as a structural B2B demand layer that did not exist five years ago: the Zypp Electric supply agreement is one direct manifestation of that demand, with a 40,000-vehicle order to be delivered over three years [Autocar Professional] [Rediff Moneynews]. Third, online retail of two-wheelers, historically a category resistant to e-commerce, is being normalised by platform tie-ups of the kind Odysse has signed with Flipkart [The Hindu] [carandbike].
The substitute and adjacent markets are unusually crowded. ICE scooters from Honda, TVS and Hero remain the volume incumbent. Within electric, listed players such as Ola Electric and Bajaj Auto, and venture-backed challengers such as Ather Energy and Greaves Electric Mobility, anchor the high-speed premium tier. Below them sits a long tail of low-speed scooter brands competing on price. Odysse's portfolio reaches across both tiers, which is unusual for a company at this funding stage.
| Metric | Value |
|---|---|
| Planned plant capacity | 40,000 units |
| Zypp Electric order | 40,000 EVs over three years |
| Sales growth (May 2025) | 43% YoY |
Data Accuracy: YELLOW -- Demand drivers corroborated by Autocar Professional, The Hindu and News18; absolute market sizing not available from cited sources.
Competitive Landscape
Odysse occupies an unusual position in Indian electric two-wheelers: a cross-tier portfolio company competing simultaneously against listed incumbents at the top of the market and a fragmented field of price-led brands at the bottom.
| Company | Positioning | Stage / Funding | Notable Differentiator | Source |
|---|---|---|---|---|
| Odysse Electric Vehicles | Cross-tier two-wheeler OEM | Pre-seed, undisclosed round Nov 2024 | Breadth of portfolio; Zypp fleet contract | [Autocar Professional] [Tracxn] |
| Ola Electric | Premium high-speed scooters | Public (2024) | Scale, in-house cell programme | [PUBLIC] |
| Bajaj Auto | Chetak electric scooter | Public | Distribution depth | [PUBLIC] |
| Ather Energy | Premium connected scooters | Late-stage venture | Software stack | [PUBLIC] |
| Greaves Electric Mobility | Affordable scooters | Subsidiary of listed Greaves Cotton | Rural dealer reach | [PUBLIC] |
The competitive map breaks into three layers. At the premium high-speed end, Ola Electric, Ather Energy and the Bajaj Chetak compete on connected features, performance and brand. In the affordable mass market, Greaves Electric Mobility's Ampere brand and a long tail of regional manufacturers compete primarily on sticker price and dealer reach. Substitutes from outside the EV category, principally Honda Activa and TVS Jupiter ICE scooters, remain the actual share donors that any new entrant has to convert.
Where Odysse has a defensible edge today, the evidence points in two directions. The first is product breadth at a low capital base: the company has put more than half a dozen vehicles into market without the multi-hundred-million-dollar funding stack that Ola and Ather have raised [Times of India] [Tracxn]. The second is the Zypp supply contract, which converts production capacity into contracted B2B demand and gives the company a fleet reference customer that pure retail competitors at its scale cannot easily replicate [Autocar Professional] [Pi-India].
Data Accuracy: YELLOW -- Competitor identities confirmed by Tracxn and public market filings; relative positioning is analyst interpretation.
Opportunity
The size of the prize, if Odysse executes against the Zypp order and converts that operational proof into a Series A, is the chance to become a credible second-tier branded OEM in the world's largest two-wheeler market.
The headline opportunity. The single largest outcome Odysse could plausibly become is the default affordable EV two-wheeler brand for India's combined retail and last-mile fleet demand, sitting one rung below Ola and Ather on price and one rung above the unbranded long tail on quality and warranty. The cited evidence makes that outcome reachable rather than aspirational on three points: the company already sells more than half a dozen models [Times of India], it has signed a 40,000-unit fleet contract that effectively underwrites plant utilisation [Autocar Professional], and it has an online distribution channel via Flipkart that compresses customer acquisition cost relative to a pure dealer model [The Hindu] [carandbike].
Data Accuracy: YELLOW -- Scenarios anchored to confirmed Zypp contract, Flipkart tie-up and product launches; valuation framing is illustrative.
Sources
- [Times of India] Odysse Electric Vehicles to set up new plant with 40,000 unit capacity: High-speed product launches in pipeline | https://timesofindia.indiatimes.com/auto/electric-bikes/odysse-electric-vehicles-to-set-up-new-plant-with-40000-unit-capacity-high-speed-product-launches-in-pipeline/articleshow/98827470.cms
- [Tracxn] Odysse - 2025 Company Profile & Competitors | https://tracxn.com/d/companies/odysse/__8EOFI0nqMsq5AYFSoxyZ0B4mHx70xe3nYPOfdRGmOl4
- [Business Standard] EV startup Odysse to double product portfolio by 2021-end, says CEO | https://www.business-standard.com/article/companies/ev-startup-odysse-to-double-product-portfolio-by-2021-end-says-ceo-120092201595_1.html
- [The Hindu] Odysse EV ties up with Flipkart to sell its electric bikes, scooters online | https://www.thehindu.com/business/odysse-ev-ties-up-with-flipkart-to-sell-its-electric-bikes-scooters-online/article67081337.ece
- [Crunchbase] Odysse Electric Vehicles - Company Profile & Funding | https://www.crunchbase.com/organization/odysse-electric-vehicles
- [Crunchbase] Nemin Vora - CEO & Founder, Odysse Electric Vehicles | https://www.crunchbase.com/person/nemin-vora
- [Autocar Professional] Odysse Electric Vehicles Reports 43% Sales Growth in May 2025 | https://www.autocarpro.in/news/odysse-electric-vehicles-reports-43-sales-growth-in-may-2025-126718
- [Odysse Electric Vehicles] Company website | https://odysse.in/
- [Odysse Electric Vehicles] About Odysse | https://odysse.in/about-us/
- [Times of India] Odysse Evoqis Lite faired electric bike launched with 90 km range | https://timesofindia.indiatimes.com/auto/bikes/odysse-evoqis-lite-faired-electric-bike-launched-with-90-km-range-details/articleshow/120725982.cms
- [News18] Odysse HyFy Electric Scooter Launched In India, Price Starts At Rs 42,000 | https://www.news18.com/auto/odysse-hyfy-electric-scooter-launched-in-india-price-starts-at-rs-42000-9327451.html
- [Autocar Professional] Odysse Electric secures investment from Zypp Electric and 40,000 EV order | https://www.autocarpro.in/news/odysse-electric-secures-investment-from-zypp-electric-and-40000-ev-order-123574
- [Pi-India] Odysse to Deliver 40,000 EVs to Zypp in Investment Deal | https://pi-india.in/odysse-to-deliver-40000-evs-to-zypp-in-investment-deal/
- [Rediff Moneynews, November 2024] Odysse to Supply 40,000 EVs to Zypp: Investment Deal | https://money.rediff.com/news/market/odysse-to-supply-40-000-evs-to-zypp-investment-deal/18591720241118
- [carandbike] Odysse EVs Now Available On Flipkart | https://www.carandbike.com/news/odysse-evs-now-available-on-flipkart-3208195
Articles about Odysse Electric Vehicles
- Odysse Is Putting 40,000 Electric Two-Wheelers on Indian Streets for Zypp — The Mumbai maker, founded in 2020 by Nemin Vora, is scaling a contract fleet order while expanding its own scooter and motorcycle lineup.