Mahindra Group Invested in US Based Scoot Networks
Mahindra Partners, an entity of USD 900 million Mahindra groups private equity arm, today announced closing of a new round of funding in Scoot Networks, an urban mobility solutions provider based in San Francisco.
With this deal, Mahindra Partners has now joined other investors including Vision Ridge Capital.
This financing round closes simultaneously with Scoots significant network expansion supported by a brand new fleet of 500 Mahindra GenZe electric scooters, Mahindra Group said in a statement.
Mahindra Group Chairman Anand Mahindra said, the partnership will provide a sustainable solution to the growing challenges associated with urban commuting like parking, congestion and pollution.
"The GenZe 2.0 is designed to intelligently address these challenges by offering relevant and...