SmartE’s Serie B $14 Million Round Funding

Khaitan & Co advised Mitsui & Co., Ltd. in relation to the investment

Electric vehicle operator SmartE has raised close to $14 million in its Series B funding round from Mitsui & Co.

SmartE provides electric mobility services. The company is India’s first shared electric mobility service and is the largest electric vehicle operator in the country. It has served over 35 million commuters since its launch nearly four years ago. Apart from building an ecosystem of partners in the electric mobility space, SmartE has also set up India’s largest EV charging infrastructure with a captive capacity to charge more than 800 vehicles concurrently. Since launching in 2015, SmartE has already grown to serve commuters from 12 metro stations and has a fleet of 800 electric three-wheelers and five charging hubs.

Khaitan & Co advised Mitsui & Co., Ltd. with a team including Zakir Merchant (Picture) along with Minhaz Lokhandwala (Principal Associate), D. Preethika (Senior Associate) and Pujitha Gullapalli (Associate) with assistance from Shailendra Bhandare (Partner) and Sourav Dan (Senior Associate) on the IP diligence.

Involved fees earner: Shailendra Bhandare – Khaitan & Co.; Minhaz Lokhandwala – Khaitan & Co.; Zakir Merchant – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Mitsui & Co. Ltd;

Author: Michael Patrini