Ninety One, a mobility firm said it has completed its Series A funding of ₹225 crore which includes ₹160 crore from A91 Partners LLP and ₹65 crore from Fireside Ventures, Avaana Capital and Titan Capital.
The firm said it will use the new funding to invest in manufacturing facilities in Gujarat, build its electric cycles portfolio and expand into global markets.
The Series A funding also sees A91 Partners’ VT Bharadwaj, Fireside Venture’s Vinay Singh and Avaana Capital’s Sandeep Singhal join the board of directors.
Sachin Chopra, Co-Founder and CEO, Ninety One said, “Our focus has always been on disrupting the bicycle and electric cycles category through engineering led product innovation and a deep brand connect with our consumers.”
“The current funding round will help us catalyse growth multi-fold as we use the capital to deepen our supply chain, strengthen our distribution channels and build our brand story,” he said.
