PURE EV, manufacturing electric scooters and motorcycles has raised USD 8 million from a consortium of investors. The funding round was led by Bennett Coleman and Company Ltd, Hindustan Times Media Ventures, alongside Ushodaya Enterprises Pvt Ltd, existing investors and high net-worth individuals.
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PURE EV is close to the end of its Series A1 investment round, which is valued at USD 25 million and includes the involvement of an international institutional investor.
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“We will be rapidly expanding our pan-India sales network from 140 to 300 dealers in the next six months,” Pure EV Co-Founder & CEO Rohit Vadera said.
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About PURE EV
Founded in 2015, The company is in the business of manufacturing electric scooters and motorcycles under the brand “PURE EV”. The company has set up a dedicated EV and battery manufacturing unit measuring over 1 lakh sqft and having a dedicated facility for R&D for EV powertrain development and testing.
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PURE is currently one of the leading EV2W brands in India and also having a dominant position in exports to South Asian countries Nepal and Bhutan. The company is focused on building products beloved by the mass consumer and building a trustworthy brand name in EV.
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