Indian electric two-wheeler maker EVTRIC Motors in talks to raise first external funding

EVTRIC Motors, a Pune-based electric vehicle manufacturer, is in talks with a bunch of venture capital and private equity investors to raise Rs200-300 crore ($25-38 million) in its first institutional round of funding, its founder and managing director Manoj Patil told DealStreetAsia.

“We are looking to raise Rs100-150 crore in the first tranche in the next 3-4 months and the balance amount subsequently to beef up our manufacturing capacity in the coming months,” Patil said.

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