GEARHEAD, PERPETUITY CAPITAL RAISE EARLY-STAGE FUNDING

Hyderabad-based e-bike startup GearHead Motors has raised Rs 6 crore in a pre-seed funding round led by angel investors Hemin Shah (Director of US-based talent firm Collabera) and Sudhakar Moparthy (Director of US-based IT company Skillbanc). The funds are expected to be used to expand operations across India and to strengthen the company's operating system which is the country's first for electric vehicles, according to the company.

Perpetuity Capital: Empowering Vehicle Owners With Quick And Hassle Fee Access To Secure Credit Lines

Perpetuity Capital is a digital lending company that enables asset ownership for single owner drivers and small fleet operators. Currently, 85% of the commercial vehicles in India are owned by this segment of asset owners that have historically lacked access to bank finance" - Karamveer Singh Dhillon, Co-founder, and CEO of Perpetuity Capital.

Perpetuity Capital raises an undisclosed amount from UC Inclusive Credit

Fintech company Perpetuity Capital has announced that it has raised an undisclosed amount in debt funding led by UC Inclusive Credit. According to the company, the funding will help the start-up expand its loan book in the L5 segment by financing single-owner drivers and small fleet operators in Delhi NCR, Karnataka, Bihar and West Bengal, where it plans to deploy the funds. The promoters and senior management team at Perpetuity have a deep understanding of the logistics/supply chain sector in the eastern states of India, Abhijit Ray, managing director, UC Inclusive Capital, said. “We believe a lasting environmental impact can only be made when we arm the smallest stakeholders in the supply chain with access to affordable and responsible credit,” he added.