PURE EV, a Hyderabad-based manufacturer of electric vehicles, has recently secured $8 million in funding from various investors, including Bennett Coleman and Company Limited, Hindustan Times Media Ventures, and Ushodaya Enterprises Private Limited. The company is now in the final phases of its Series A1 funding round, aiming to reach $25 million. Furthermore, negotiations are underway with potential investors from Dubai, Hong Kong, and Singapore for a Series A2 funding round, which could potentially raise $15 million.
Company Milestones and Achievements
Rohit Vadera, co-founder and CEO of PURE EV, revealed plans to grow their sales network from 140 to 300 dealers nationwide in the next six months. The company achieved significant milestones in the past year, launching new electric motorcycles, including the first 200+ KM range electric scooter in India, and integrating AI into their power-train platforms while maintaining affordability. The PURE EV customer base has collectively covered a mileage of 1.5 billion kilometers to date.Expansion Plans and Prospective Opportunities
PURE EV is dedicated to electric transportation and making it more affordable. They have filed for more than 120 intellectual property rights and utilize their research and development capabilities to create battery packs and vehicles. With a network of over 140 outlets in India, PURE EV has successfully sold over 70,000 EVs. They also export to South Asian countries and plan to enter the Middle East and African markets.LEADERBOARD
