Source: Entrackr
Electric two-wheeler firm Okinawa Autotech has secured Rs 60 crore (approx $7 million) from its existing investor Dhruv Khush Business Ventures. The company announced this through filings with the Registrar of Companies (RoC).
This is an important funding milestone for Okinawa given the company’s recent struggles in terms of sales levels and a significant loss in market share.
According to the RoC filing, to raise this amount Okinawa issued 23.5 lakh equity shares at Rs 255.21 share price. Following this funding event, as per Entrackr estimation Okinawa is valued at around Rs 325 crore (approx. $38 million).
Significant Drop in Sales and Revenue
Okinawa, also launched in 2015, was once among the top electric two-wheeler brands in India, having launched models including PraisePro, iPraise+, Okhi-90, Ridge+, Lite, R30, and more.
Okinawa, once a top performer, is now struggling to retain its earlier market position. According to Vahan numbers, Okinawa was only able to sell 1,266 electric scooters as of June 2025 , which is a market share of a mere 0.23% at this point in time. Okinawa sold 95,931 scooters in FY23, with a market share of 13.17%. In FY24, Okinawa’s sales dropped to 20873 and its market share dropped to 2.2%.
Okinawa’s revenue also fell sharply in FY24, with a reduction in income from FY23, of 87%, going from Rs 1144 crore to Rs 182 crore taking into account a loss of Rs 52 crore As per media estimates.
Intense Market Competition
While Okinawa is facing difficulties, the competition from other companies is much more significant. TVS Motor and Bajaj Auto are both at the top of the market for electric scooters in 2025. TVS sold 1,33,227 units, and Bajaj sold 1,32,168 units to capture market shares of 24% and 23.8%, respectively.
Other competitors, such as Ola Electric and Ather Energy, are also rapidly growing. Ola reported an operating revenue earned Rs 4,514 crore in FY25, and Ather posted Rs 2,255 crore, almost 30% growth, compared with the previous year.
What is next for Okinawa?
The new investment is anticipated to help Okinawa enhance its products and recover its business in the future. The financial backing from its investor validates they still have conviction in the company’s future.
Okinawa is currently facing strong competition in the electric vehicle industry, which means they must move quickly and with intelligence to reclaim their market space.
Okinawa’s financing represents an opportunity to stem the tide of falling sales and hypercompetition. With backing from investors, the company has a path to recovery, but that depends on agile innovation and an executionally-sound strategy in a rapidly changing market.
