Private Equity PE-VC Fund Investments
Electric bus maker Eka Mobility raises Rs.200-Cr from ENAM Holdings
Pune-based commercial electric vehicles maker Eka Mobility has raised INR 200 crore from ENAM Holdings through the issue of convertible preference shares.Founded in 2019 by Sudhir Mehta, EKA, a subsidiary of Pinnacle Industries, develops and manufactures electric buses and light commercial vehicles. The firm is setting up a bus plant in Pune and another in Chakan. It is setting up its third manufacturing facility in Madhya Pradesh, expected to be up and running by the end of this year.
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In Oct 2023, Eka Mobility had attracted about USD 100 M from PE-VC investors.For FY24, Eka Mobility had reported about INR 53 Cr in Operating Income and about INR 32 Cr in Net Loss.