Mahindra Partners, the $900 million private equity division of the Mahindra group, has announced that it has closed a new round of financing in Scoot Networks, an urban mobility solutions provider based in San Francisco, California, joining other prior investors, including Vision Ridge Capital. This financing round closes simultaneously with Scoot’s significant network expansion supported by a brand new fleet of 500 Mahindra Genze electric scooters.
Anand Mahindra, Chairman, Mahindra Group, said of the transaction: “We are excited to partner with the terrific team at Scoot Networks to provide a sustainable solution to the growing challenges associated with urban commuting – parking, congestion, and pollution. The GenZe 2.0 is designed to intelligently address these challenges by offering relevant and affordable technology.”
“We are proving that electric transportation can be both affordable and profitable,” says Scoot Founder & CEO Michael Keating, adding that “We now have the vehicles and resources we need to scale the business, thanks to our partnership with Mahindra and the ongoing support of our earlier investors.”
Tvarra, a brand synonymous protective riding headgear for women and young adults, unveiled its latest Hyp3 Kids’ helmet range, at the new flagship store at Nexus Mall, Koramangala in the presence of T...
Apollo Tyres has introduced Apterra HT5, a premium highway terrain tyre designed specifically for the core SUV segment, where urban sophistication meets highway dominance.
Galaxy, a leading global brand of construction, earthmoving and material handling tyres, has entered the fast growing UTV/ATV segment with two flagship patterns - Hulk PSX and Everest PSX. The new ran...