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ADB Ventures Announces its First Investments News Release | 17 March 2021 MANILA, PHILIPPINES (17 March 2021)  The Asian Development Bank’s (ADB) new venture arm, ADB Ventures, has announced its first investments. ADB Ventures invests in early-stage technology companies globally that address urgent development challenges in emerging Asia and the Pacific. Euler Motors Pvt. Ltd., based in India, is an electric vehicle manufacturer and fleet operator focused on last-mile commercial logistics, accelerating India’s and Southeast Asia’s transition to sustainable mobility. Euler Motors has raised $9.4 million in Series A funding with participation by ADB Ventures, Blume, Inventus, and other investors. Smart Joules Pvt. Ltd., based in India, provides energy efficiency-as-a-service for large hospitals and commercial buildings, delivering savings of up to 40% on energy costs and reducing greenhouse gas emissions. Smart Joules has raised $4.1 million in its Series A financing led by

South koreaRepublic of koreaAshok lavasaMafalda duarteTaesik yoonKarin isakssonNordic development fundFinland ministry for foreign affairsVentures equity fundDevelopment policy elina kalkkuSustainable development goalsClimate investment fund clean technologyAsian development bankSoutheast asiaEquity fundPresident ashok