Hero Electric raises ₹220 crore to sell over a million electric scooters a year
Hero Electric raises ₹220 crore to sell over a million electric scooters a year
Kritti BhallaJul 12, 2021, 09:49 IST
Naveen Munjal, managing director Hero ElectricBCCL
The Series B round was led by Gulf Islamic Investments (GII), with participation from
OAKS.
The company had last raised ₹160 crore from Mumbai-based Alpha Ventures in December 2018.
Hero Electric said it will use this funding to expand production capacity.Electric vehicle (EV) manufacturer Hero Electric, which focuses on two-wheelers, has raised ₹220 crore ($29 million) in its Series B funding round led by Gulf Islamic Investments (GII). Existing investor OAKS also participated in this round.