The electric two-wheeler company Pure EV announced that a group of investors invested USD 8 million, or approximately Rs 66 crore. According to a statement from Pure EV, the fundraising was spearheaded by Bennett Coleman and Company Ltd, Hindustan Times Media Ventures, in collaboration with Ushodaya Enterprises Pvt Ltd.
As per PURE EV, it is presently nearing the completion of its $25 million Series A1 fundraising round. Additionally, the company wants to raise $15 million in Series A2 capital.
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Over 70K electric motorcycles and scooters have already been sold by the company.
The company already exports its products to South Asian nations, and it is well-known throughout India. The company also intends to enter the African and Middle Eastern markets.
“We will be rapidly expanding our pan-India sales network from 140 to 300 dealers in the next six months,” Pure EV Co-Founder & CEO Rohit Vadera stated.
About PURE EV
PURE EV was founded by Rohit Vadera and has implemented renewable energy solutions for some esteemed commercial organizations, universities, hospitals, residential communities, non-governmental organizations, and schools.
