On the inaugural day, Start-up Odisha will formalise strategic partnerships by signing MoUs with investment firms like Equanimity Ventures and Sanchi Connect
It will use the fund to kickstart deliveries of the newly launched Rorr electric bike and fulfill the existing orderbook in addition to increasing production capacity and enhancing distribution network
This fundraiser is a part of the larger round the company is raising spearheaded by Mumbai Angels, Hyderabad Angels, Speed Fund, GetVantage, Finnvolve and angel investors
The pre-series A investment round was co-led by Pentathlon VC and the Chennai Angels and the funding round saw the participation from T-Fund, Purvansh Holdings, Mumbai Angels and Hyderabad Angels and some other global investors