e-moped maker Kinetic Green raises $20-M from Greater Pacific Capital

Pune-headquartered Kinetic Green has raised USD 20 million (INR 168 crore) in equity and debt from Greater Pacific Capital in return for a 4.58% stake in the company.While INR 67 crore has been raised by allotting 7,04,612 Series A CCPS (compulsorily convertible preferred shares), the company will issue 10,100 NCDs (non-convertible debentures) to raise the balance INR 101 crore.Kinetic Green sells scooters and mopeds including e-Luna, Zoom, Flex and Zin. Kinetic Green will use the proceeds for operating expenses, repaying debt and for investing in capital expenditure.