The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on sustainable and profitable growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said.
Magenta Mobility is currently providing more than 750 three-wheel electric vehicles (EVs) across seven cities providing electrified last-mile delivery logistics.
Electric mobility solutions provider Magenta Mobility has raised $22 million (around Rs 180 crore) as part of a Series A1 funding from Morgan Stanley’s India-focussed ..