EKA Mobility has raised $57 million in a Series A funding round led by the India-Japan Fund (IJF). The company plans to utilize the funds to expand its manufacturing capacity, strengthen research and development, build its supply chain, and increase marketing efforts both in India and internationally.
The investment aligns with IJF’s mission to promote climate technology and foster collaborations between Indian and Japanese businesses. Krishna Kumar, partner and fund head at IJF, stated that the fund strongly believes in India’s electric mobility potential and aims to support homegrown companies that are driving transformative change in the market.
EKA Mobility’s founder and chairman, Dr. Sudhir Mehta, said the funding comes at a pivotal time as the company scales operations and pushes forward the adoption of electric vehicles across the country. Recently, EKA Mobility also announced plans to invest ₹800 crore to boost its electric bus production capacity.
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