Indian company electric two-wheelers maker Kabira Mobility has secured $50 million (around Rs 412 crore) in funding from Qatar-based Al-Abdulla Group in a Series A round to facilitate the expansion of its production capacity.
The homegrown electric two-wheeler maker plans to ramp up the production capacity of its electric bikes in its existing facility, launch new products and enhance its sales infrastructure across the country. The company currently has an installed production capacity of 40,000 units a month at its Dharwad facility.
Also, Kabira Mobility plans to put up a new manufacturing plant around Jewar, Uttar Pradesh, with an installed capacity of 125,000 units per month, which will create direct and indirect employment opportunities for about 7,000 people.
Kabira Mobility has reportedly received funding in the past, this is not the first funding round for the company. Meanwhile, the company says it plans to conduct another round of fundraising by the end of the year.
Headquartered in Gao, India, Kabira Mobility is one of the leading electric 2-wheeler brands dedicated to transforming urban transportation with smarter, cleaner, and more connected solutions in the country. Its fleet of electric scooters & electric bikes is designed for different segments of the market including delivery, parcel delivery and corporate solutions.