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Earth Energy EV, an electric vehicles (EV) start-up, has raised an undisclosed amount in its latest seed funding round. The round was led by Pranada Bio-Pharma Managing Director LR Joshi, with participation from other private equity investors.
Earth Energy EV will use the funds to launch three vehicle models, which it has been developing over the past two-and-a-half years, the company said in a statement.
"The vehicles we are launching in the market are 96 per cent localised and in the true essence mark the ‘Make in India’ initiative put forth by the government. The investment will be used to hire talent, strengthen the sales network, and make the vehicles production-ready via enhanced OEM (original equipment manufacturer) relations and strong supply chain,” said Rushi Shenghani, founder, Earth Energy.
Earth Energy has previously raised investments from private investors and was part of the SmartCity Dubai Accelerator Programme in 2018.
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