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EKA Mobility Bags INR 200 Cr From Enam Holdings
- Pune-based EKA Mobility raises INR 200 Cr from Enam Holdings to expand manufacturing capacity.
- Funding round confirmed by EKA Mobility's founder Sudhir Mehta; Enam Holdings did not respond to queries.
- Report suggests fundraise will elevate EKA Mobility to unicorn status based on internal targets.
- Capital to be used for expanding existing e-bus manufacturing in Pune and setting up new facility in Madhya Pradesh.
- EKA Mobility was founded in 2022 and manufactures e-buses and electric small commercial vehicles.
- Current e-bus manufacturing unit in Pune aims to double capacity to 500 units per month by FY26.
- Initial capacity of 2,000 vehicles per month at SCV and electric truck facility in Chakan.
- Upcoming facility in Madhya Pradesh to have initial capacity of 5,000 e-buses per year.
- EKA claims order book of 3,000 e-buses and 1,000 SCVs.
- Operating revenue for FY24 jumped to INR 53 Cr, but net loss also increased to INR 32 Cr.
- Previous funding round of INR 200 Cr from Mitsui and Co. Ltd. in 2023; included commitments from VDL Groep and Pinnacle Industries.
- EKA to deploy capital for scaling manufacturing, expanding products, and meeting capex needs.
- Government push for EV adoption in commercial mobility; schemes like PM-E Drive support electric buses and trucks.
- India's EV market projected to be a $132 Bn opportunity by 2030.
- EKA Mobility's funding development reported by YourStory and Inc42 Media.
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