Electric motorcycle maker One Electric looks to raise $5-M

Noida-based electric motorcycle maker One Electric is looking to raise USD 5 million to fund its expansion plans, including setting up an assembly plant in Nairobi, Kenya. The company is looking to raise the funds as part of its pre-series round of funding, to be followed by a USD 20-million Series A round towards the end of this fiscal year. The funds will also be used to set up a plant in Pune. A part of the funds will go towards product development and for establishing a supply chain.