EV tech startup Cell Propulsion has announced that it has raised $2M from existing investors.
“Cell Propulsion (has) recently raised funding of $2 million in both debt and equity in a growth round from existing investors. Endiya Partners, growX Ventures, Huddle Accelerator, and Micelio were the key investors in this round,” the mobility technology company based out of Bengaluru, said in a release.
It added, “The fresh capital has been raised to expand operations, cater to the growing demand for its solutions as well as to successfully execute the company’s ‘go-to-market strategy,’ besides the development of the integrated ecosystem to accelerate the adoption of eCVs.”
Speaking on the announcement, Cell Propulsion Co-founder & CEO Nakul Kukar said, “We are delighted to have continued interest & support from our key investors. The current round has been done to meet growing demand for our solutions, expand our operations, and successfully execute our go-to-market strategy.”
He further said, “With the funds raised last year, the company completed the certification of battery packs and eLCVs, besides commissioning pilot assembly lines.”
