Funding Alert: Tech Startups That Raked in Moolah This Month
The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking to know where the cash is flowing.
Startup: Zelio E-Mobility
Sector: EV
Amount: INR167.96 crore
Led by: Motilal Oswal Financial Services
Zelio E-Mobility, an electric two and three-wheeler manufacturer, has received board approval (subject to the approval of the shareholders, the in-principle approval of BSE Limited and other statutory / regulatory approvals) to raise up to INR167.96 crore through a preferential issue of equity shares and convertible warrants. The proposed fundraise is aimed primarily at supporting the company’s next phase of expansion across India.
Kunal Arya, Managing Director, Zelio E-Mobility, said, “Our next phase is about building the capacity and market reach needed to serve a much larger customer base across India. The proposed fundraise will give us greater room to expand our manufacturing footprint, strengthen our distribution network and accelerate the development of our...
Copyright of this story solely belongs to thetechpanda.com. To see the full text click HERE
