Cycle maker Ninety One raised nearly $30 million (Rs 225 crore) in Series A round from A91 Partners, according to a release shared by the company. This round values the firm at about Rs 1,000 crore.
Existing investors including Fireside Ventures, early-stage investor Avaana Capital and Kunal Bahl's Titan Capital also participated in the round. The firm will use the funds to establish manufacturing facilities in Gujarat, enter international markets and build out its electric cycles portfolio.