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EKA Mobility raises Rs 200 Cr from ENAM Holdings
YourStory
ยท
1m ago
Medial
EKA Mobility has secured Rs 200 crore from ENAM Holdings to advance its manufacturing capabilities and product portfolio. The Pune-based electric vehicle maker plans to expand its three plants, enhance production, and launch various passenger and goods carrier vehicles over the next two years. One plant in Pune and another in Chakan are operational, with a third facility in Madhya Pradesh underway. The company aims to meet increasing demand, supported by a substantial order book.
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Veteran dealmaker Bhanshali's investment firm Enam invests in EKA Mobility
VCCircle
ยท
3m ago
Medial
Enam Holdings, co-founded by veteran venture capitalist Vallabh Bhanshali, has invested Rs 200 crore ($23.7 million) in EKA Mobility, a Pune-based electric vehicle manufacturer operating under Pinnacle Mobility Solutions Pvt Ltd. EKA, producing electric buses and commercial vehicles, has received prior investments of $100 million from Mitsui & Co. and others. For the year through March 2024, EKA Mobility reported increased revenue of Rs 53 crore but also saw its net loss widen to Rs 32.3 crore.
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EKA Mobility Gets Second Tranche Of INR 200 Cr From Japanโs Mitsui
Inc42
ยท
1y ago
Medial
EKA Mobility recently secured fresh capital to support its manufacturing operations, product portfolio expansion, and meet its capex and working capital requirements. The funding is part of an agreement signed with Mitsui and VDL Groep, aiming for joint investments totaling $100 million. EKA Mobility, established in 2022, specializes in the production of electric buses and small commercial vehicles.
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Fresh Bus raises INR 43.9 Cr, closes series A at INR 87.5 Cr
Inshorts
ยท
12m ago
Medial
Bengaluru-based inter-state electric bus service provider Fresh Bus has raised an additional INR 43.9 Cr (about $5.2 Mn) in its Series A funding round led by Maniv Mobility. The round also saw participation from Shell Ventures, Alteria Capital and existing investor Riverwalk Holdings.
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EKA Mobility hires Sohel Merchant as chief innovation officer
Economic Times
ยท
8m ago
Medial
Electric mobility and technology company EKA by Pinnacle Mobility Solutions has appointed Sohel Merchant as its chief innovation officer (CIO). With over 20 years of experience in the automotive industry, Merchant has worked at companies including Tesla, Canoo, Faraday Future, and Ford Motor Company. He was involved in the design of Tesla's Model S and Model X vehicles. EKA aims to provide sustainable transportation solutions and is backed by equity partners Mitsui and VDL Groep.
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Daily Indian Funding Roundup and Key News โ 23 June 2025
StartupTalky
ยท
1m ago
Medial
On June 23, 2025, Indian startups saw significant funding across various sectors. Highlights include a strategic investment in Truliv by BCCL, Rabitat's โน40 crore Series A round led by RPSG Capital Ventures, and the Kamath brothers acquiring a โน250 crore stake in InCred Holdings. Kazam secured $6.2 million in Series B funding to expand EV infrastructure, while Utopia Therapeutics and EKA Mobility raised funds for biotech and EV manufacturing, respectively. Additionally, Meesho, PharmEasy founders, and PhonePe announced strategic business developments.
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EKA Mobility onboards Rohit Srivastava as Chief Growth Officer
IndianStartupNews
ยท
1y ago
Medial
EKA Mobility, a leading electric vehicles and technology company, has appointed Rohit Srivastava as their Chief Growth Officer. With vast experience in sales and marketing, Srivastava will focus on expanding the organization through sales, marketing, business development, and product management. As a key member of the team, he will also take responsibility for driving the company's growth and success. Srivastava's customer-centric approach and expertise in EV adoption make him a valuable addition to EKA Mobility's mission of transforming the electric mobility landscape.
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Hero FinCorp raises Rs 260 Cr in pre-IPO round, trims total issue size to Rs 3,408 Cr
YourStory
ยท
1m ago
Medial
Hero FinCorp, a subsidiary of Hero MotoCorp, raised Rs 260 crore in a pre-IPO round, reducing the total IPO issue size to Rs 3,408 crore. The fresh issue size was cut to Rs 1,840 crore from Rs 2,100 crore. Investors in the offer-for-sale include AHVF II Holdings Singapore II Pte. Ltd and others. The funds from the fresh issue aim to enhance the company's capital for future lending activities. The NBFC serves retail and MSME sectors in India.
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Rapido raises Rs 250 Cr from Prosus as part of Series E round
Entrackr
ยท
5m ago
Medial
Rapido raises Rs 250 Cr from Prosus as part of Series E round Mobility firm Rapido is raising Rs 250 crore (around $29.7 million) from Prosus as part of Series E round. This funding comes just seven months after its $120 million round, which was led by WestBridge. The board at Rapido has passed a special resolution to issue 47,743 Series E preference shares at an issue price of Rs 52,467 each to raise Rs 250 crore or $29.7 million, the company's regulatory filing accessed from the Registrar of Companies shows. Rapido was set to raise approximately $60 million in a mix of primary and secondary funding from Prosus, as exclusively reported by Entrackr in October 2024. The ride-hailing app is raising $200 million in its Series E round at a $1.1 billion valuation. The company has already received two tranchesโ$120 million and $29.7 million. Following this latest tranche, Prosus will hold around 2.9% of Rapido. Based on Entrackrโs estimates, Rapido is currently valued at approximately Rs 8,726 crore (just over $1 billion). Rapido recorded 46.3% year-on-year growth, with revenue standing at Rs 648 crore in the fiscal year ending March 2024. The company also reduced its losses by 45%, bringing them down to Rs 371 crore during the same period. In Q2 FY25, Rapido reported a 2.5X year-on-year increase in gross order value (GOV), reaching Rs 2,461 crore, up from Rs 977 crore in Q2 FY24. The company also saw a two-fold increase in rides, totaling 207 million.
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Vedanta-owned Sterlite Power raises โน725 crore from private equity investors to fuel expansion plans | Company Business News
Livemint
ยท
7m ago
Medial
Sterlite Power, owned by Vedanta Ltd, has raised INR 725 crore from foreign and domestic investors to support its expansion plans. The funds will be used to enhance production capacity, develop new products, and expand internationally. US-based GEF Capital Partners and Mumbai-based ENAM Holdings participated in the fundraise. Sterlite Power aims to deliver reliable power solutions that contribute to India's energy transition and support the growth of renewable energy. This is the first fundraising for the company since its demerger in 2024.
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EV financing startup Perpetuity Capital raises Rs 7 Cr
Entrackr
ยท
1y ago
Medial
Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital. Perpetuity Capital plans to utilise these funds to enhance its lending capabilities and expand its loan book, particularly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states. Led by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use. In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance. In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. Revfin raised $14 million in Series B round led by Omidyar Network in December whereas Vidyut raised $10 million in February this year.
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