Man quits corporate job to start own venture with his wife’s savings, now earns ₹1.5 crore monthly from 550 showrooms
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.
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 (BPO) company, revealed the publication.
Later, Grover quit his job to kickstart his entrepreneurial journey with his wife Ritika’s little savings.
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 (EV) 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.
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.
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 (IPO) targeted for 2029.
Sneha Biswas specialises in covering entertainment and pop culture, with a specialisation on Bollywood, Hollywood, OTT platforms, K-pop, K-dramas, and major developments in the US entertainment industry. She believes in telling stories that balance speed with substance, and in making entertainment journalism contextual, culturally aware, and reader-first rather than purely reactive.<br><br> With over six years of experience in digital media, Sneha currently serves as a Deputy Chief Content Producer at Live Mint. She has spent more than three and a half years with the HT Group and returned to the organisation in February 2025, joining Live Mint to uplift the entertainment section. Over the past year, she has been closely involved in entertainment coverage including breaking news, explainers, trend reporting, box office reports and analysis for the audience.<br><br> Sneha is Google News certified, having completed training focused on newsroom best practices, digital reporting, and SEO-driven content strategies. Her work reflects a strong understanding of audience behaviour, search trends, and the evolving consumption patterns of entertainment news across formats.<br><br> Prior to her current role, Sneha has worked across multiple content and editorial functions within digital newsrooms, building expertise in content planning, editing, and real-time coverage. Her professional interests lie at the intersection of entertainment, internet culture, and global pop trends.<br><br> Working for the National city team, Biswas closely follows global entertainment movements while maintaining a strong pulse on what is happening in India.
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