Electric vehicle (EV) operator SmartE, which provides electric three-wheelers for last-mile connectivity at metro stations, announced raising a Series B funding of nearly ₹100 crore from Mitsui & Co, a Japanese trading and investment company. SmartE had raised a $5-million Series A round in 2017.
The company said it would use this funding to expand its fleet of EVs in Delhi NCR and expand to other cities in India over the next six months. Goldie Srivastava, Co-founder and CEO, SmartE, told BusinessLine that the company will expand to six other cities. While he did not reveal the names of the cities, he said they all have metro systems.
SmartE plans to introduce mini electric vans, which can seat six to 10 people, as another last-mile connectivity option in the near future, Srivastava added.
