Brands
YSTV
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Yourstory
search

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

Videos

ADVERTISEMENT

Hyderabad-based Pure EV raises $8M in latest funding round

Pure EV is in the final stage of concluding its Series A1 funding round, amounting to $25 million with the participation of a foreign institutional investor.

Hyderabad-based Pure EV raises $8M in latest funding round

Monday February 19, 2024 , 1 min Read

Electric two-wheeler firm PURE EV on Monday said it raised $8 million (around Rs 66 crore) from a consortium of investors.

The funding was led by Bennett Coleman and Company Ltd, Hindustan Times Media Ventures, alongside Ushodaya Enterprises Pvt Ltd, existing investors and high net-worth individuals, Pure EV said in a statement.

The Hyderabad-based company said it is currently in the final stage of concluding its Series A1 funding round, amounting to $25 million with the participation of a foreign institutional investor.

Also Read
JLR India closely monitoring the demand for battery electric vehicles: MD Rajan Amba

Concurrently, ongoing discussions are taking place with potential investors from Dubai, Hong Kong, and Singapore for Series A2 funding, targeting an infusion of $15 million, it added.

"We will be rapidly expanding our pan-India sales network from 140 to 300 dealers in the next six months," Pure EV Co-founder and CEO Rohit Vadera stated.

The company sells a range of electric motorcycles and scooters and has already sold over 70,000 units.


Edited by Suman Singh