Leaving behind his corporate career, Krishna Grover started his own venture with a humble savings of his wife. Today, Herald E-Bikes, an electric two-wheeler business by Grover has a product range of 34 models and a distribution network of more than 550 active showrooms.
The founder went from earning a monthly salary of ₹3,500 to a monthly revenue run rate of ₹1.5 crore with his company, reported Nav Bharat Times.
Meet the founder of Herald E-Bikes
Hailing from Ghaziabad, Grover lost his father at the age of 13. With responsibilities on his shoulders, he began working early in life. In 2005, he was working for a monthly salary of ₹3,500. By 2014, he secured a management position at an international business process outsourcing () company, revealed the publication.
Later, Grover quit his job to kickstart his entrepreneurial journey with his wife Ritika’s little savings.
Initial phase and challenges
In 2018, the venture began as Krishika Services and was formally incorporated as Krishika EV India Private Limited in December 2022. Later, his former colleague and friend, Vinay Kumar, joined as co-founder. Initially, the brand reportedly faced an obvious challenge in the electric vehicle () market. Consumers in tier-2 and tier-3 cities were hesitant to switch to electric two-wheelers due to concerns regarding product quality, unreliable after-sales service and the risk of trusting a growing brand.
Rising petrol prices and pollution in Delhi-NCR pushed the founders to believe that affordable electric mobility could make its place in the market beyond major cities. The company built its proposition around durable, accessible e-scooters and customer confidence, including a five-year extended warranty on batteries and motors, added the report.
34 models and 550 showrooms
Headquartered in Vaishali, Ghaziabad, Herald E-Bikes has a manufacturing facility in Duhai. Its portfolio includes 34 models, including 23 non-RTO low-speed scooters and 11 RTO-approved high-speed models available in their network of 550 showrooms.
Rather than investing heavily in manufacturing infrastructure, the company is said to focus on an asset-light, job-work manufacturing model aligned with its ‘Make in India’ approach. This seemingly helped it expand its distribution network across the country.
Market expansion and IPO
Currently, Herald E-Bikes has a monthly revenue run rate of approximately ₹1.5 crore. It is now targeting ₹20 crore in annual revenue in FY2026-27. An expansion plan into international markets such as Nepal and Sri Lanka is also in the cards, reported the publication, with a possible initial public offering () targeted for 2029.