Brands
Exelmoto shifts gears from vanity to utility
MUMBAI: Forget the flowery talk about clean air and conscious commuting. Exelmoto, the electric cycle venture backed by actor Suniel Shetty, cricketer KL Rahul and actor Ahan Shetty, is done playing the aspirational mobility game. It’s now chasing something far more lucrative: last-mile logistics.
The company has signed up Delhivery, one of India’s largest delivery networks, for a phased rollout of 200 electric bikes purpose-built for hauling parcels through congested urban streets. The deal, which began as a pilot in June, validates founder Akshai Varde’s bet that sturdy frames and fat tyres built for Indian roads could handle real-world commercial pounding.
“Delhivery validated what we built under real-world conditions,” said Varde, a designer with over two decades in motorcycles. “It showed that our design and engineering hold up even in demanding daily use.”
The pivot marks a sharp turn for a brand that launched with lifestyle credentials in June 2025 —lightweight electric cycles that need no registration or licence, aimed at students, office workers and the elderly. But whilst the personal mobility pitch has its charms, the margins and scale lie in B2B contracts.
“Our commercial pivot creates clear paths to profitability,” said Rahul, who joined Shetty and Ahan as co-investor earlier this year. “This isn’t just about personal mobility anymore; it’s about building last-mile infrastructure for India.”
The company hasn’t abandoned retail entirely. Exelmoto recently launched Scoot, an electric cycle with a step-through frame and bench seat designed for women and older riders. It offers 45 kilometres of range with pedal-assist, keeping it licence-free whilst targeting comfort over speed.
“When my generation can confidently adopt electric mobility, the revolution is truly underway,” said Shetty, who came aboard after seeing Varde’s prototype.
With 68 outlets opening, Amazon and Flipkart listings set for November, and manufacturing capacity targeted at 50,000 bikes by 2026, Exelmoto is scaling fast. The company holds two granted patents and four pending, covering frame architecture and component packaging. Exports to southeast Asia and west Asia are in the works.
Ahan, the youngest investor, summed up the shift: “My generation’s looking for brands that evolve with us, not just talk to us. Exelmoto began with style, and now it’s about substance and infrastructure.”
Whether India’s clogged streets need another electric two-wheeler is debatable. Whether they need one that can turn a profit delivering packages is a far more interesting question. Varde and his celebrity backers are betting the answer is yes.
Brands
Emami names Dhruv Aggarwal as chief growth officer
Former Bain partner steps in as FMCG firm sharpens growth playbook
MUMBAI: Emami Limited has appointed Dhruv Aggarwal as its chief growth officer, effective 25 March 2026, following the resignation of Giriraj Bagri.
Aggarwal joins the FMCG major from Bain & Company, where he most recently served as partner. With over two decades of experience across consulting and strategy, he brings a global perspective shaped by work across India, the US, the UK and Germany.
During his tenure at Bain, Aggarwal advised consumer, retail and media companies on large-scale transformations, business turnarounds and growth strategies. He was also closely involved with India’s startup ecosystem, guiding early-stage ventures on scaling and digital expansion, while supporting private equity and venture capital firms on investment decisions.
His earlier stints include a brief role at Barclays Capital and operational experience at Jindal Power, giving him a mix of financial and industry exposure.
Academically, Aggarwal holds an MBA from Indian Institute of Management Bangalore and has also been associated with University of Illinois Urbana-Champaign as a PhD candidate and teaching assistant.
The appointment comes at a time when Emami Limited is looking to sharpen its growth strategy in a competitive consumer market. With a seasoned strategist now at the helm of growth, the company appears set to double down on transformation and expansion in the months ahead.
