Prakriti E-Mobility, an electric mobility startup, has received an undisclosed amount of lead investment from IEG Investment Banking Group as part of its pre-Series A funding round.
The money will be used to grow the company’s electric vehicle (EV) fleet and install more charging stations across the country. It will also utilise the funds to improve its mobile app and invest more in the technological side of its goods. This is the first of five million dollars in funding that the firm will receive as part of its pre-Series A round.
Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal created Prakriti in 2019. Simply put, the company is an electric cab service provider for both B2C and B2B consumers. Prakriti is now active in the National Capital Region of Delhi.
In the last 2.5 years, the startup claims to have driven 8 million kilometres around Delhi-NCR. It had previously stated that it had partnered with MakeMyTrip, an online travel aggregator, to provide cab services from the New Delhi airport.