Transportation and logistics focussed EV startup, 3EV Industries Pvt Ltd raised $2 million in seed from several family offices. It will utilise the funds for new vehicle build and R&D in order to indigenise and internalise part manufacturing, said a statement.
3EV Industries intends to leverage its parent companies' experience in using renewable energy and off-grid power systems to de-bottleneck last mile logistics. The company produces vehicles in the cargo and passenger segments, as well as kits for converting conventional vehicles to electric. 3EV intends to de-bottleneck last-mile logistics by utilising renewable energy and off-grid power systems. Lohum Cleantech, an EV battery manufacturing and recycling startup, recently raised $7 million in a new round of funding led by Baring Private Equity Partners.