Sampoorna EV Transitions To Bootstrapped Status, Repays Investment To NexGen Energia
Startup Sampoorna EV has transitioned to a bootstrapped company following the return of its investment to Dr. Piyush Dwivedi, Promoter and Chairman of NexGen Energia. it comes after Dr Dwivedi decided to independently enter the EV industry and mutually agreed with Sampoorna EV's Founder and Managing Director, Vikas Gupta, to return the investment.
Dr Dwivedi has acquired a 25 per cent stake in the company, valued at six Crores. However, in a turn of events, Dr Dwivedi decided to pursue independent ventures in the EV industry. a mutual agreement was reached with Sampoorna EV’s Founder and Managing Director, Vikas Gupta, leading to the return on the investment and thereby exit from Sampoorna.
Vikas Gupta said, “The return on this investment is a significant milestone for Sampoorna EV. As a fully bootstrapped company now, we are steering towards a path of self-reliant growth and innovation in the electric vehicle sector. Our achievement of adding 50 Dealership and Distribution points in just six months, along with clocking a revenue of Rs. 4 Crores in the same period, stands testament to our robust business model and market acceptance.”
The addition of 50 new dealerships and distribution points is a significant leap in the company's market presence and customer reach. The reported revenue of Rs. 4 Crores during this period underlines the Sampoorna EV’s emerging journey in the last six months.
