Electric mobility unit of JBM Auto aims for another substantial financial award
JBM Ecolife Mobility, a subsidiary of Mumbai-listed auto components manufacturer JBM Auto Ltd, has already secured $100 million in funding from multilateral institutions such as the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) [4]. This investment, made last year, is supporting the company's ongoing expansion and growth in the electric mobility sector.
Now, less than a year later, JBM Ecolife Mobility is reportedly in talks to raise another round of funding [5]. This move suggests that while the initial investment is currently supporting the company's expansion efforts, JBM Ecolife Mobility is seeking further capital to continue and accelerate its growth in the electric mobility sector.
The details about the potential size, source, and investors for the new funding round are not yet disclosed.
Meanwhile, Multiples PE, a prominent private equity firm, is considering an exit move from a healthcare portfolio firm. In a separate development, Multiples PE leads a $118-million investment in Shubham Housing [6]. The timing of these announcements and any potential connections between them are not specified.
JBM Ecolife Mobility, in its pursuit to further grow and advance in the electric mobility sector, is rumored to be seeking additional financing, possibly from technological and financial avenues. Meanwhile, Multiples PE, showing a keen interest in diversifying its investments, is considering a potential entry into the technology sector with a significant investment in Shubham Housing.
