Okinawa Autotech, a Gurgaon-based electric vehicle startup, has been turning heads in India’s two-wheeler scene since 2015. With models like the PraisePro and Okhi-90, it’s pushed affordable electric scooters for city commuters. FY24 was a rough patch, with an 87% revenue plunge, but a fresh INR 60 Cr ($7M) funding round from Dhruv Khush Business Ventures in June 2025 has sparked new hope. Here’s a dive into Okinawa’s story—its bold beginnings, brutal challenges, and what’s next, with takeaways for startups.
Jeetender Sharma, an engineer, and Rupali Sharma, a business operations expert, launched Okinawa to tackle India’s pollution and fuel dependency. “Electric scooters felt like the answer,” Jeetender told The Economic Times in 2023. Their 2015 debut, the Ridge+, gained traction fast, and by 2020, scooters like the iPraise+ and PraisePro had sold over 100,000 units, thanks to solid range and sleek designs. But FY24 brought trouble—revenue fell to INR 182 Cr with INR 50 Cr in losses, per Inc42 and Entrackr. Battery safety issues, stricter regulations, and competition from Ola Electric and Ather Energy hit hard. With parts costs eating 68% of expenses and market share at 0.23% (1,266 scooters sold in 2025), Okinawa slashed costs by 80% and ramped up safety testing to rebuild trust.
In June 2025, Okinawa landed INR 60 Cr from Dhruv Khush Business Ventures through 23.51 lakh shares at INR 255.21 each, per MCA filings. X users called it a “big save,” with funds set to clear debts and boost working capital. A 2023 partnership with Italy’s Tacita, backed by €25M for an R&D center, is driving work on advanced batteries and an electric cruiser motorcycle due this year. Investors like Akash Bhansali and Madhuri Dixit are on board, though the crowded EV market remains a challenge. Okinawa’s scooters, like the Okhi-90 and Lite, target budget-conscious riders via dealers and online sales. With India’s EV market projected to hit $36.7 billion by 2030, per industry estimates, their R&D focus aims to regain ground. Key milestones include the 2015 Ridge+ launch, 100,000+ sales by 2020, the 2023 Italy R&D center, and this year’s funding. Startups can take notes: solve real problems (affordable, green rides), adapt fast (cost cuts, safety fixes), and bet on innovation (R&D). Okinawa’s now prepping for its cruiser launch and a bigger share of India’s EV boom. Check OkinawaScooters.com for their lineup or X for updates. For more startup stories, visit ProfitJournal.org.