Home Startup news SmartE secured $15 mn series B funding from Mitsui

SmartE secured $15 mn series B funding from Mitsui

More Sections

SmartE, which is an electric vehicle startup, has secured INR 100 crore as a part of the funding round of Series B from the Japanese company Mitsui & Co.

With the help of this fundraises, the company is now even looking to rapidly increase its fleet size within the Delhi-NCR as well as some other cities across the globe. It will also use the funds to ramp up its charging infrastructure network to provide both the battery swapping and plug in-vehicle solutions.

SmartE, in a statement, revealed that with the help of this strategic investment, it would even explore the multiple synergies with the Mitsui along with the use of existing business in the Electric Vehicle domain across the globe for the longer term benefit.

The company which is founded in the year 2014, is focused on offering the electric mobility services in the country, which offers shared last-mile connectivity. In early 2017, SmartE has secured its lasts funding of $5 Million from the Singapore Based EcoTransit Investments International Pvt Ltd.

Speaking on the fundraise, Goldie Srivastava, Co-Founder, and CEO, SmartE, said, ” We are honored and excited to welcome on board a global conglomerate like mitsui as our strategic partner. Mitsui and smarte share common values, that of sustainable business growth while creating a positive impact on the society we live in. At smarte we are committed to transforming the last-mile connectivity paradigm in the country and to creating a global benchmark for electric mobility adoption.”

In a statement, the startup also revealed that it has as of now commuted more than 30 million commuters till date. With the help of its fleet of more than 1000 electric three wheelers in the Delhi-NCR, as it moves around 100000 commuters on a day to day basis.

SmartE is also providing the last mile connectivity partner to the Delhi Metro which is offering its services across the multiple metro stations in the Gurgaon, Faridabad, and Metro.

Udit Agarwal
Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies, Udit can be reached at [email protected]

More Articles Like This

Dont Miss !! Newsletter

Received Full Article's Directly to inbox !!

Latest Stories