HOP Electric Mobility raises $2.6 mn

On Wednesday, electric automobile manufacturer HOP Electric Mobility informed that it has raised $2.6 million in a funding round. However, the EV company did not reveal who invested in their company. The latest fundraising round is part of the current  $10-million pre-series fundraising.  In a statement, the EV maker told, ''Hop Electric Mobility has closed a strategic round of $2.6 million as part of an ongoing $10 million pre-series fundraiser.” The electric mobility company has established 105 retail touchpoints with over 6,200 on-road scooters in the year 2021. 

Ketan Mehta, Founder and Chief Executive Officer of HOP Electric Mobility, stated, ''Our strategic investor, a public-listed company, reaffirmed their commitment and synergies in pursuing sustainable business opportunities. The same investor has previously supported the company in becoming a successful mandate holder of the Central Government's ambitious Rs 26,058 crore Production-Linked Incentive (PLI) scheme for Auto under the New Non-Automotive Investor (OEM) category. Under this mandate, we will be investing more than Rs 2,000 crore in India in the next five years. The goal is to bolster India's manufacturing capacities and boost HOP Electric's chances of becoming a global energy mobility pioneer.”