Electric vehicle financing startup, Three Wheels United, which is backed by Delta Corp Holdings, Grip Invest and Microsoft, has ventured into the EV two-wheeler financing space, plans to fund 2,000 electric two-wheelers over the next six months across Karnataka and Delhi-NCR.
Earlier to this funding, Three Wheels United raised $10 million as a part of its Series A funding in May. The round was led by Delta Corp Holdings, with participation from investors in the West Asia, Europe and from Grip Invest.
Three Wheels United, founded by Cedrick Tandong, Kevin Wervenbos and Apurv Mehra in 2017, with an aim to address the key hindrances in the large-scale penetration of electric vehicle (EV) three-wheelers across India. Prior to its Series A round, it had also bagged funding from Asian Development Bank Ventures, Techstars, Microsoft, and investors from the Middle East, Europe, and US.
The company looks to strengthen its India presence by striking pacts with various public agencies and industry players. Currently, it has more than 50,000 drivers on its platform and financed over 4,000 auto-rickshaws.
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