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Electric vehicle start-up SmartE gets Rs 100-crore venture from Mitsui

The company will utilize the financing to quickly increase its fleet size within Delhi-NCR as well as other key <br><br>cities around the nation.

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Electric vehicle start-up SmartE gets Rs 100-crore venture from Mitsui

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  1. BUSINESS STANDARD Electric vehicle start-up SmartE gets Rs 100-crore venture from Mitsui The company will utilize the financing to quickly increase its fleet size within Delhi-NCR as well as other key cities around the nation. Electric vehicle (EV) start-up SmartE has raised Rs 100 crore from Japanese major trading house Mitsui & Co in a Series B

  2. subsidizing round. In addition to the capital, Mitsui will bring to SmartE multiple synergies through its existing businesses in the EV domain to enable the company for long-term development. Founded in 2014, SmartE gives electric versatility services and spotlights on offering shared last-mile connectivity. It has moved over 35 million commuters till date. With its armada of nearly 1,000 electric three- wheelers in Delhi-NCR, it moves around 100,000 workers day by day. The company will use the funding to rapidly increase its fleet size within Delhi-NCR as well as other key cities around the country. It will also use the funds to significantly ramp up its charging infra network to offer both plug-in vehicle charging and battery swapping solutions.. “We are focused to transforming the last-mile connectivity paradigm in the country and to creating a global benchmark for electric mobility adoption,” said Goldie Srivastava, co-founder and chief executive of SmartE. Read More

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