Tuesday, November 29, 2022
HomeInsightFunding Alert Electric Vehicle Startup Urban Sphere Raises 3 M INR in Investments

[Funding alert] Electric Vehicle Startup Urban Sphere Raises 3 M INR in Investments

Established in September 2022, Urban Sphere, an OEM Connected Commercial Electric Vehicle manufacturer in their first funding round, raised a fund of 3 million INR through an Angel network.

Established in September 2022, Urban Sphere, an OEM Connected Commercial Electric Vehicle manufacturer in their first funding round, raised a fund of 3 million INR through an Angel network.

This investment will be used to increase the company’s operations across national and international grounds, all the while focusing on increasing their clientele for connected commercial four-wheeled vehicles.

Read also – [Funding alert] Crypto banking startup Juno raises $18 mn in funding led by ParaFi Capital

In light of this investment, Mr. Karthik A, CEO and Co-Founder of Urban Sphere, who started this company with the hope of transforming the commercial fleets towards Connected Mobility – EV, said, “We started Urban Sphere after intensively studying e-commerce customers during and post pandemic and found a shift in their behaviors towards quick deliveries – ten minute deliveries, express deliveries, and same day deliveries which are inturn adding up infra & operational challenges on Mid & Last Mile logistics” . We would like to thank our Angel investor for trusting Urban Sphere vision and investing in our startup.”

Additionally, he said, “We will be using this funding to set up extensive ground operations of Manufacturing, R&D. With the hope of bringing Connected Wheels on Road for Indian markets through an innovative Connected Commercial 4-wheeled Electric Vehicle for the future of Transport & Logistics.”

Read also – [Funding alert] KinderPass raises $500K in pre-seed funding

About Urban Sphere

Established in September 2022, Urban Sphere is a Connected Commercial EV OEM Co-founded by Mr. Karthik A, CEO and Mr. Nagarjuna V, who is CTO & Co-founder of the company.

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