We are discussing EV Startup Clean Motion has Secured $1 Million in a Seed Funding Round From VC Firm Finvolve:
The Indian subsidiary of EV startup Clean Motion has raised $1 million in its funding round. This seed funding round was led by India accelerator-backed Venture Capital firm Finvolve. The India arm of Clean Motion also plans to secure $3 million to $5 million in its pre-series round. This EV maker offers electric Vehicles and services for last-mile deliveries.
Some existing and new investors participated in the funding round. The startup plans to use these fresh proceeds to scale its operations and expand its nationwide network. Clean Motion will utilize some portion of this fund to set up a manufacturing hub in Pune for a three-wheeler passenger, Zbee. The startup plans to establish EV charging stations across the country. The startup mentioned that this funding will help them scale up operations and strengthen their global urban EV market position.
The CRO and co-founder of Finvlove, Ashish Bhatia, highlighted that this is the strategic investment of Finvolve in the EV sector, and this collaboration will bring favorable market shifts in the manufacturing environment, leading to the growth of clean India with a significant change in the global EV market. The startup manufactures Electric Vehicles and offers EV components. The company’s flagship consists of a three-wheeler EV known as Zbee with a single charge for 50 km.
The startup will offer EV solutions to connect locations, including metro stations, colleges, malls, and offices. The amount raised during this round will be used to develop more efficient EV solutions for market expansion, scaling up operations, and technical advancement to increase the platform’s performance capability. The firm’s Indian subsidiary will focus on first—and last-mile services. The Indian EV market is growing rapidly and is predicted to reach $266 billion by 2030.
Conclusion
Clean Motion’s Indian subsidiary under a Swedish EV manufacturing startup closed its seed funding round. The startup has raised a $1 million fund in a round led by VC firm Finvolve. The round had participation from several new and existing investors. The company plans to use the fund to increase its network, meet market demand, and scale up to meet working capital requirements. The India arm of Clean Motion also plans to secure $3 million to $5 million in its pre-series round. This EV maker offers electric Vehicles and services for last-mile deliveries.
Clean Motion will utilize some portion of this fund to set up a manufacturing hub in Pune for a three-wheeler passenger, Zbee. The strategic investment of Finvolve in the EV sector and this collaboration will bring favorable market shifts in the manufacturing environment, leading to the growth of clean India and a significant change in the global EV market. The startup plans to establish EV charging stations across the country. The startup mentioned that this funding will help them scale up operations and strengthen their global urban EV market position.
