List of electric vehicles companies seed funding
Electric vehicles companies and startups usually take funding to develop themselves in the industry. The fundings they receive is mainly used for the product development or research and development or expansion of the company. For this, the companies or startups will need some huge amount in those cases the funding needs to be received. We have listed some of the funding deals of electric vehicles companies and startups. Let us now see the List of electric vehicles companies seed funding.
List of electric vehicles companies
Ather Energy a Bengaluru-based electric scooter company is said to receive the biggest funding among Indian EV companies in 2020 with a total of ₹3.423 billion. The biggest amount of ₹840 million was invested by Hero MotoCorp India’s leading motorcycles and scooters manufacturer
Euler Motors a Delhi based EV manufacturer announced in May 2020 that it raised ₹200 million as part of its ongoing series A’ funding which was led by Bengaluru-based Inventus Capital India.
A Bengaluru based electric two-wheeler lifecycle management company,Welectric has raised an undisclosed amount in angel funding from several investors.
Zenobe Energy a leading UK based battery storage solutions and EVs infrastructure provider company has announced that it has secured an investment of £150 million from Infracapital an infrastructure equity investment arm of M&G Plc. This funding will be used for the expansion of its grid-scale battery, electric vehicles and charging infrastructure.
The company has 170 MW of grid-scale batteries functioning and constructing various services including the power and reactive power services to the national grid and distribution network operators in the U.K. It supports more than 100 electric buses at present and is in talks to support more than 250 electric buses by mid-2021.
Hyderabad based electric vehicle startup Etrio Automobiles Pvt Ltd has raised Rs 22 crore ($3 million) in a Series A funding round from angel investors in September 2020. It is led by Janardhan Rao, founder of Triumph Global Group, a Singapore-based international commodity trading house with a consolidated revenue of over $900 million.
Yulu a Bengaluru-based micro-mobility service provider, announced that Rocketship.VC invested ₹300 million in the company in June 2020.
Yulu has raised more than $20 million in funding from key investors like Bajaj Auto Ltd, Blume Ventures, 3one4 Capital, Wavemaker, and now US-based Rocketship.
An EV startup Ultraviolette Automotive has raised funding of ₹300 million from TVS Motor Company in a ‘Series B’ funding round.
Earth Energy EV
A Delhi based EV startup Earth Energy EV has announced that it has raised undisclosed seed funding, led by LR Joshi, MD or Pranada Bio-Pharma Pvt Ltd.
The company says this fund will be used to facilitate the launch of three electric vehicles, which are currently under the on-road trial phase for the last 2.5 years. It has earlier raised investments from private investors and has been part of the SmartCity Dubai Accelerator Programme in 2018.
The electric ride-hailing platform, BluSmart announced that it has secured ₹510 million in its pre-series A funding round from multiple investors in September 2020.
Bounce a motorcycle and scooter-sharing start-up has raised a funding of $6.5 million from existing investor InnoVen Capital, Asia’s leading venture debt provider.
The marks InnoVen Capital’s third investment in Bounce in a duration of 18 months which is a total debt investment of $12 million.
It has raised an additional $105 Mn (Rs.746.33 Cr) from Accel Partners and B Capital Group in fresh funding and is a part of the ongoing Series D funding round.
An electric mobility startup, RACEnergy has raised an undisclosed amount as part of its seed round from growX ventures, Prophetic Ventures, and other prominent angels in the energy industry in January 2020.
Apart from that electric vehicle manufacturer, Detel is targeting to raise INR 150 crore by the end of this year.
Euler Motors has raised INR 30 crore as part of its ongoing Series A round led by the present investors, Inventus India and Jetty ventures.
Amritsar based EV logistics startup eBikeGo raises $1.5M in pre-Series A round. last year it has raised $0.7 million through Rajesh Sawhney of GSF Accelerator, Rohit Chanana of Sarcha Advisors, Girish Chitale, Startup Buddy, and other angel investors.
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