Ltd, the parent of SmartE, one of India’s largest electric mobility service provider, has raised ₹100 crore in series B funding from Japan’s Mitsui and Co.Delhi-based SmartE, which operates a fleet of more than 1,000 electric rickshaws in Delhi NCR, will use the funds to expand into new markets. “The deployment of electric three-wheelers in first and last mile connectivity operations is now a proven business model. Until now, SmartE has raised more than ₹132 crore. “We have more than 800 EV charging stations in Delhi NCR and are building another half-a-dozen EV charging-cum-parking depots. By July-end, two more charging depots will be commissioned," he said.

Source: Mint July 21, 2019 16:41 UTC