Kinetic Green has raised $25 million from Greater Pacific Capital (GPC). This is a large proportion of their total Series A goal to raise $40 million. This is Kinetic Green’s first external equity fundraiser. The funds are expected to be utilised for scaling up production, marketing and distribution of their current products, and towards research and development of new products. Kinetic Green aims to fundraise the remaining capital in 2024 itself.
The investment by GPC is a mixture of equity shares, convertible preference shares and debentures. The managing director of GPC India will join Kinetic Green’s board of directors.
Kinetic Green is a part of the Kinetic Group and entered the electric vehicle market in 2016. Currently, it has sold over 100,000 EVs and has a cumulative revenue of over Rs 10 billion.
