India, July 15 -- Electric mobility startup E3 Electric.Ai has raised Rs.100 Cr (about $10.4 Mn) in a mix of equity and debt as part of its Series A funding round led by BluVenture Holdings, with participation from a few undisclosed angel investors.

Speaking to Inc42, founder and CEO P Sanjeev said about 75% of the funding came via equity; the remainder was debt.

The startup plans to use the fresh capital to accelerate product development and expand its presence across India as it gears up to commercially launch its first electric scooter, E3 TRION.

E3 plans to initially launch in Bengaluru and select southern markets before expanding to other key cities. The startup has identified around 90 markets and plans to enter key cities, inclu...