My Fundraising Journey in Singapore
This was my first trip to Singapore and my first experience raising funds. I arrived two days before the Accelerating Asia Demo Day and dove straight into preparing for the big event. Listening to extensive feedback from mentors, I had to completely revise my pitch. During the rehearsal with Craig and Alex, I struggled to deliver confidently, which left me feeling a bit down. Determined to improve, I worked tirelessly—12 hours a day refining the pitch.
When Demo Day finally arrived, I gave my presentation. While it wasn’t my best, the investors loved it. The response was overwhelming, leading to 11 follow-up meetings. By now, we’ve closed nearly 95% of our $450k round, and I’m confident we’ll be oversubscribed by Monday.
This being my first fundraising round, meeting investors who believed in me and my vision for Palki Motors was an incredible experience. Their support energized me, making me feel like I’m no longer alone in this journey.
Conversations with these brilliant investors not only provided funding but also unlocked exciting new revenue opportunities for Palki Motors:
Torit Fintech: Inspired by these discussions, I conceptualized “Torit Fintech” (a name I just came up with). Torit Fintech will provide loans to ridesharing EV drivers, enabling them to purchase cars from Palki. It will generate revenue through daily collections.
Battery Packs for Three-Wheelers: With our expertise in manufacturing battery packs at Palki, why not expand into producing batteries for the 40M three-wheelers in the market? This doesn’t require new facilities; we can produce and sell the batteries with our existing capabilities.
Charging Facilities: As car designers and manufacturers, we also develop specifications and business models for ridesharing drivers. By sourcing chargers from other companies, leasing them to dealers, and earning a commission on every charger, we can create another steady revenue stream.
These ideas were validated by the amazing people I met in Singapore, giving me the confidence to move forward.
Scaling Up
By December 2025, Palki Motors aims to produce 100 units per month, generating $12M in annual revenue. With 1,200 cars annually, our drivers will pay approximately $5M per year to EV investors. Additionally, we’ll generate revenue from battery supply and parts manufacturing, bringing our total to $20M next year.
Given these projections, I expect at least a 2X revenue multiple, valuing Palki Motors at a $40M post-money valuation—or higher if my current investors capitalize on future opportunities.
Vision for the Future
This experience in Singapore has opened my eyes to what’s possible. Thank you to Accelerating Asia—I applied three times because I knew this program was the key to taking my company to the next level.
Our endgame? By 2030, we plan to sell 20,000 vehicles annually, turning Palki Motors into a billion-dollar company.
The journey has just begun! 🚗✨