Earth Energy EV, a Mumbai-based startup that aims to develop Efficient, Affordable and Easily adoptable Electric Vehicles for Logistics and Delivery Businesses, announced that it has raised an undisclosed amount of seed funding from LR Joshi, Managing Director at Pranada Bio-Pharma Pvt Ltd, along with other equity investors.
The Company said that it will utilise the capital infusion to facilitate the launch of its three vehicle models, hire critical talent, and strengthen its sales network.
Founded in 2017 by Rushi Shenghani, Earth Energy EV is involved in the development of electric motorcycles, scooters, commercial vehicles, and autonomous vehicle drivetrains for global consumers.
In a press release, Rushi said: “It’s remarkable to have the support of our investors as we look to grow the company and disrupt the Electric Vehicles market. The vehicles we are launching in the market are 96 percent localised and in the true sense mark the Make-in-India initiative put forth by the government. The investment will be used to hire critical talent, strengthen the sales network, and make the vehicles production-ready via enhanced OEM relations and strong supply chain.”
“The vehicles to be launched in the last quarter of this year will be in the high-speed 2W and commercial vehicles category. We will offer lucrative pricing and buying options to customers for making the transition to EVs easy and comfortable,” Rushi added.
“All the Earth Energy vehicles boast of amazing Connected features and ADAS Capabilities that makes the overall driving Safe and Effortless. Our Prototypes are subjected to more than 50,000kms of rigorous reliability and performance testing to ensure an amazing product to our customers,” according to the Company’s Linkedin page.
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