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Hyderabad's EV startup PURE EV raises $8M led by BCCL, Hindustan Times, others

IndianStartupNews

IndianStartupNews · 1y ago

Hyderabad's EV startup PURE EV raises $8M led by BCCL, Hindustan Times, others

Hyderabad-based electric vehicle manufacturer PURE EV has secured $8 million in funding led by Bennett Coleman and Company Limited, Hindustan Times Media Ventures, and Ushodaya Enterprises Private Limited. The funding will support the company's expansion and innovation in the electric vehicle sector. PURE EV is also in discussions with potential investors for an additional $15 million in funding. The company plans to double its sales network and has introduced new electric motorcycles and an e-scooter with a range of over 200 kilometers. PURE EV aims to expand into the Middle East and African markets.

Related News

Pure EV raises $8 million in funding

Economic Times

Economic Times · 1y ago

Pure EV raises $8 million in funding

Indian electric two-wheeler company, Pure EV, has raised $8 million in funding from investors including Bennett Coleman and Company Ltd and Hindustan Times Media Ventures. The company is also in the process of finalizing a Series A1 funding round of $25 million, with ongoing discussions for a Series A2 funding amounting to $15 million with potential investors from Dubai, Hong Kong, and Singapore. Pure EV plans to expand its sales network from 140 to 300 dealers in the next six months.

PURE EV Secures $8 Million In Funding, Nears Completion Of $25 Million Round

OutlookIndia

OutlookIndia · 1y ago

PURE EV Secures $8 Million In Funding, Nears Completion Of $25 Million Round

Indian electric vehicle (EV) manufacturer PURE EV has raised $8m in funding from investors including Bennett Coleman and Company Limited and Hindustan Times Media Ventures. The Hyderabad-based firm is also in talks with potential investors in Dubai, Hong Kong and Singapore for an additional $15m in funding. PURE EV, which produces 2-wheeler EVs and battery packs, plans to expand its sales network in India from 140 to 300 dealers in the next six months. The company has already sold over 70,000 vehicles and is looking to enter Middle Eastern and African markets.

Pure EV Aims To Become India’s Second Listed EV Manufacturer, Targets INR 3,000 Cr IPO Next Year

Inc42 · 10m ago

Pure EV Aims To Become India’s Second Listed EV Manufacturer, Targets INR 3,000 Cr IPO Next Year

Pure EV, a Hyderabad-based startup, plans to achieve a turnover growth of 20 times over the next four years. The company is also preparing to introduce solid-state battery technology in fiscal year 2026, in collaboration with UK-based engineering firm PDSL. Pure EV currently holds a 7% market share in the electric vehicle sector at the regional transport office level.

Groover Raises $8M in Series A Funding

Finsmes · 1y ago

Groover Raises $8M in Series A Funding

Paris-based music promotion platform, Groover, has raised $8 million in a Series A funding round led by OneRagtime, Trind, Techmind, and MozzaAngels. Other participants included Partech, Bpifrance’s Tech & Touch fund, Verve Ventures, and Frenchfounders. The startup plans to use the funds to integrate additional services like promotion, marketing, coaching, and career development support. It also aims to strengthen its presence in North America, Europe, and Latin America. Groover has attracted nearly 350,000 independent artists from over 180 countries, generating over 4 million personalized reviews.

Calicut-based EV startup chargeMOD raises Rs 2.5Cr in pre-seed funding from Phoenix Angels

IndianStartupNews

IndianStartupNews · 1y ago

Calicut-based EV startup chargeMOD raises Rs 2.5Cr in pre-seed funding from Phoenix Angels

Calicut-based BPM Power Private Limited, owner of EV Startup chargeMOD, has secured Rs 2.5 crore in pre-Seed funding from Phoenix Angels. chargeMOD offers EV charging solutions for homes and businesses, aided by a mobile app for station location. Collaborating with notable entities like L&T, Murugappa Group, and others, it has rapidly grown, capturing 90% of Kerala's EV charging market share. The startup is backed by Kerala Start-up Mission and aspires to thrive in the EV charging sector.

AI SaaS Start-Up RapidClaims Raises $8M to Expand Healthcare Automation

OutlookIndia

OutlookIndia · 3m ago

AI SaaS Start-Up RapidClaims Raises $8M to Expand Healthcare Automation

RapidClaims, an AI-powered SaaS startup, has raised $8 million in Series A funding, led by Accel and Together Fund. The healthcare firm plans to use the funds to enhance its technology, expand its go-to-market strategies, and boost sales. With services that automate healthcare processes, RapidClaims aims for significant growth. Founded in 2023, the startup has already experienced rapid expansion, serving a noteworthy client base and seeking further growth in the healthcare sector.

Vidyut raises $10 Mn in Series A led by 3one4 Capital

Entrackr

Entrackr · 1y ago

Vidyut raises $10 Mn in Series A led by 3one4 Capital

EV financing and vehicle lifecycle management platform Vidyut has raised $10 million in its Series A round led by 3one4 Capital. The round also saw participation from new and existing investors including Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital and Udaan CEO Sujeet Kumar. The Series A round is a mix of equity and debt funding. Entrackr had exclusively reported about Vidyut’s new fundraise earlier this month. Previously, it closed its seed round of $4 million in a mix of equity and debt led by Force Ventures and others in December 2022. This funding emphasizes the company’s commitment to improve EV ownership for SMBs and the startup will utilize the new funds to scale its offerings to the EV ecosystem, the startup said in a press release. Vidyut, which offers EV insurance, lifecycle management, and EV resale, is also looking to expand its presence to 40 Indian cities. The company will also double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. Founded in 2021 by Xitij Kothi and Gaurav Srivastava, the company offers a battery subscription ownership plan powered by proprietary asset-underwriting algorithms. It already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group’s Montra Electric, Euler Motors and OSM vehicles. The two-year-old company was in the pre-revenue stage until FY23 and posted an income of Rs 68 lakh with a loss of Rs 3 crore during the last fiscal year. In the electric vehicle financing space, Vidyut competes with Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. The Indian startup ecosystem has seen an uptick in funding for EV financing focused startups in the past couple of months. In December, Revfin raised $14 million in Series B round while Mufin and OTO raised $17 million and $10 million, respectively, earlier this month.

Co-living startup Truliv raises strategic investment from BCCL

Entrackr

Entrackr · 24d ago

Co-living startup Truliv raises strategic investment from BCCL

Co-living startup Truliv raises strategic investment from BCCL Co-living startup Truliv has entered into a strategic equity partnership with Bennett, Coleman and Company Limited (BCCL) at a valuation of Rs 356.50 crore. The Chennai-based company had earlier raised 2.1 million US dollars in a seed funding round from DRA Homes and other investors. According to a press release, the fresh funds will be used to expand Truliv’s footprint into new cities, strengthen its technology platforms, and build out the next set of alternate asset classes in hospitality including holiday homes and retirement living. Founded in 2019 by Rohit Reddy and Ranjeeth Rathod, Truliv is a subsidiary of DRA and is focused on transforming the alternate asset class hospitality sector in India. The company aims to deliver impactful and future-ready living solutions that cater to the evolving needs of diverse demographic segments. Operating through a built-to-suit, asset-light model, Truliv says its approach blends real estate efficiency with hospitality finesse. Its high occupancy properties serve the growing base of mobile professionals, digital nomads, and young urban migrants in India. Truliv currently operates in the holiday homes segment as its second asset class, with several more offerings under development. Its upcoming portfolio includes student housing, retirement communities, and nature-centric living solutions. Each offering is designed to redefine residential experiences through innovation, quality, and lifestyle integration. With plans to scale into new cities and diversify into emerging segments like holiday homes, retirement living, and nature-centric stays, the company is projected to generate Rs 200 crore in annual revenue within the next three years.

BRKZ raises $8M to expand construction tech solutions across Saudi Arabia

IndianStartupNews

IndianStartupNews · 1y ago

BRKZ raises $8M to expand construction tech solutions across Saudi Arabia

Saudi Arabian construction technology startup BRKZ has secured $8m in a Series A funding round co-led by 9900 and BECO Capital. The firm aims to use the funds to expand its procurement solutions across Saudi Arabia and internationally, streamlining the construction industry's procurement processes. BRKZ's platform provides access to a wide range of suppliers and materials, offering tailored delivery and payment options. The investment will also be used to deepen market penetration, enhance product offerings, and extend the company's reach beyond Saudi Arabia.

Permit.io Raises $8M in Series A Funding

Finsmes · 1y ago

Permit.io Raises $8M in Series A Funding

Tel Aviv-based authorization-as-a-service provider, Permit.io, has secured $8 million in Series A funding. The round was led by Scale Venture Partners, with participation from NFX, Verissimo Ventures, Roosh Ventures, Firestreak, 92712, and other existing investors. Permit.io offers a platform that allows developers to easily incorporate permissions and access control into their products. The company's technology has already been adopted by major industry players such as Accenture, Cisco, and Tesla. With the funding, Permit.io plans to expand its sales presence in the U.S. and enhance its unique interfaces.

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