Deal Street

July 26, 2019

S&R Associates advised SmartE to Expand 3-Wheeler Operations in India


S-&-R-Associates

S&R Associates advised Treasure Vase Ventures Private Limited (TVVPL), owner and operator of SmartE, India’s first and largest three wheeler electric mobility service, is set to rapidly expand services across India. The service provides convenient, safe and affordable means of shared transportation while reducing congestion and impact on environment.

Mitsui & Co. is investing US$14 million in TVVPL to further SmartE services within 5 km radius of stations to the growing metro network in India.

Mitsui's investment will help SmartE to grow its fleet to 50,000 electric three-wheelers in the next four years and expand its area of service in the Delhi National Capital Region (NCR) and other cities across India.

Since 2015, SmartE has grown exponentially to serve commuters from 12 metro stations and has a fleet of 800 electric three-wheelers. To date, it has served over 35 million commuters.

S&R Associates led by partners Sanjeev Adlakha and MohitGogia including associates Kanika Khanna, Neethu Roy and Yash Kumar represented Treasure Vase Ventures Private Limited.

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