ETtechBengaluru: Cell Propulsion, a Bengaluru-based mobility and EV technology startup, has raised $2 million in debt and equity from its existing investors Endiya Partners, growX Ventures, Huddle Accelerator and Micelio Mobility, among others.
The company has now raised a total of $4 million in three years of its existence. The fresh funds will be used to accelerate adoption of its electric commercial vehicles.
“The current round has been done to meet growing the demand for our solutions, expand our operations, and successfully execute our go-to-market strategy,” said Nakul Kukar, co-founder and chief executive, Cell Propulsion.
Founded in 2017 by former Indian Space Research Organisation (ISRO) engineers, Cell Propulsion integrates critical attributes of electric mobility to provide economically viable solutions for intracity commercial vehicle fleets.
The latest round of funding comes at a time when the EV startup is deploying electric light commercial vehicles with various logistics companies for last- and middle-mile cargo movements. The company is also setting up its first charging station and service centre in Bengaluru.
Several companies—including Ola Electric, Ather Energy and Hero Electric—have been attempting to get a foothold in the electric vehicle space in India.
The company has now raised a total of $4 million in three years of its existence. The fresh funds will be used to accelerate adoption of its electric commercial vehicles.
“The current round has been done to meet growing the demand for our solutions, expand our operations, and successfully execute our go-to-market strategy,” said Nakul Kukar, co-founder and chief executive, Cell Propulsion.
Founded in 2017 by former Indian Space Research Organisation (ISRO) engineers, Cell Propulsion integrates critical attributes of electric mobility to provide economically viable solutions for intracity commercial vehicle fleets.
The latest round of funding comes at a time when the EV startup is deploying electric light commercial vehicles with various logistics companies for last- and middle-mile cargo movements. The company is also setting up its first charging station and service centre in Bengaluru.
Several companies—including Ola Electric, Ather Energy and Hero Electric—have been attempting to get a foothold in the electric vehicle space in India.