Clean Motion AB Expands In India With USD 1 Million Investment From Finvolve & India Accelerator

Abhijeet Singh
11 Jun 2024
03:02 PM
1 Min Read

Swedish clean mobility player establishes manufacturing facility in Pune to produce its E3W Zbee.

Clean Motion AB Expands In India With USD 1 Million mobility outlook

Clean Motion AB is making significant strides in India with a substantial USD 1 million seed fund investment from India Accelerator through its micro VC, Finvolve. This funding aims to boost Clean Motion's expansion and operational capabilities in the Indian electric vehicle (EV) market through its wholly-owned subsidiary, Clean Mobility Solution India Pvt Ltd.

Clean Mobility Solution India plans to set up a dedicated manufacturing facility in Pune to localise the production of Clean Motion’s flagship product, Zbee, a three-wheeled passenger EV. This initiative will transform the Zbee into a 'Made in India' product aimed at both domestic and global markets. The company is establishing a robust EV charging infrastructure across operational clusters including parking facilities, plug-in chargers, and swappable batteries to support fleet operations of 20-25 Zbee vehicles.


The seed fund investment of USD 1 million is part of a broader plan, with Finvolve aiming to invest an additional USD 3-5 million over the next two years. This financial boost will support the company’s focus on first and last-mile connectivity, linking metro stations, malls, colleges, and offices, thereby enhancing urban mobility solutions in India.

The company intends to raise a Pre-series round of USD 3-5 million early next year to achieve its ambitious scale objectives.

Clean Motion AB’s entry into India was facilitated by the India-Sweden Innovations’ Accelerator programme, a part of the intergovernmental cooperation between the two nations focused on green transformation and resource optimisation. Supported by the Swedish Energy Agency, Business Sweden, and CII – Green Business Centre, the programme has been instrumental in fostering innovation and sustainable practices.

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