EV startup Pi Beam Electric raised $1.7M in pre-Series A

Pi Beam Electric

EV startup Pi Beam Electric had raised $1.7M in pre-Series A led by Inflection Point Ventures.

The round also saw participation, including Sattva Group and Nanavati family, syndicates, including Sincere Syndication and Conscience Multi-family Office.

Along with existing investors Arshad Sayyad (former India Head Fidelity Investments), Vijay Ratnaparke (CIO of Robert Bosch), Shaji Koshy (former SVP Royal Enfield), and Ashok Jhunjhunwala (Institute Prof IIT Madras and President IITM Research Park, IITM Incubation Cell, and RTBI) also participated in this funding round.

The startup is planning to utilize the capital in ways like:

To develop the deployment platform,
Hiring its team,
Spreading operations to multiple cities, and
Include new products.

Pi Beam is a vertically integrated "EV as a Service" platform for logistics and commute applications. The startup was founded by Visakh Sasikumar and Manu Iyer in the year 2013. The startup had mounted on to build an EV ecosystem platform with deep EV knowledge gained by selling over 1000+ EVs in the B2B market.

The startup has its presence across Bengaluru and Chennai, with 100+ EVs in the fleet. By the next upcoming year, Pi Beam is planning to fix their feet to Hyderabad, Mumbai, and Delhi and increase the fleet to 2,000.

Tags : Pi Beam Electric,Pi Beam Electric funding,Pi Beam Electric news

Startups

EV startup Pi Beam Electric raised $1.7M in pre-Series A

Tags : Pi Beam Electric,Pi Beam Electric funding,Pi Beam Electric news

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