Delhi, September 2022: Established in September 2022, Urban Sphere, an OEM Connected Commercial Electric Vehicle manufacturer in their first funding round, raised a fund of 3 million INR through an Angel network. This investment will be used to increase the company’s operations across national and international grounds, all the while focusing on increasing their clientele for connected commercial four-wheeled vehicles.
In light of this investment, Mr. Karthik A, CEO and Co-Founder of Urban Sphere, who started this company with the hope of transforming the commercial fleets towards Connected Mobility – EV, said, "We started Urban Sphere after intensively studying e-commerce customers during and post-pandemic and found a shift in their behaviors towards quick deliveries - ten-minute deliveries, express deliveries, and same day deliveries which are in turn adding up infra & operational challenges on Mid & Last Mile logistics” . We would like to thank our Angel investor for trusting Urban Sphere's vision and investing in our startup."
Additionally, he said, "We will be using this funding to set up extensive ground operations of Manufacturing, R&D. With the hope of bringing Connected Wheels on Road for Indian markets through an innovative Connected Commercial 4-wheeled Electric Vehicle for the future of Transport & Logistics."
About Urban Sphere:
Established in September 2022, Urban Sphere is a Connected Commercial EV OEM Co-founded by Mr. Karthik A, CEO and Mr. Nagarjuna V, who is CTO & Co-founder of the company.