Etrio Raises $3 Mn In Series A Funding Round, Eyes Growth In 3-Wheeler Segment
India, Sept. 29 -- Hyderabad-based electric vehicle retro fitment kit maker Etrio has raised $3 Mn in Series A funding round from a group of Singapore-based high net worth individuals (HNIs). The round was led by serial investor, Janardhan Rao, founder of Triumph Global Group.
The company plans to use the investment to fuel the growth of new electric vehicles in three-wheelers and bicycle product lines. It will also focus on customer acquisition across both B2B and consumer segments.
The startup has been working on electrification kits for Maruti Suzuki's Alto and Dzire, but has now turned its attention to the B2B market with its electrification kit for the Tata Ace light commercial vehicle. On August 18, 2020 it launched its first retr...
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