Total amount raised
$41.8 Millions
Latest funding date
07/01/2019
Location
Pure has successfully raised funding through a Venture - Series Unknown round, with notable investors including V.C. Nannapaneni and Whitbread. The company is a private entity focused on manufacturing digital radios and engineering solutions.
Keep reading to explore the intricacies of Pure's fundraising journey and the investors backing this innovative platform.
What Is Pure?
Pure, founded in 1985, is a digital radio manufacturer and engineering firm based in Kings Langley, Hertford, United Kingdom. The company specializes in producing DAB digital radios, internet radios, and music streaming devices.
Pure's product range includes portable, Hi-Fi, and in-car models, as well as multi-room audio and entertainment cloud services through the Pure Connect applications and portal. They are also innovating in the TV set-top box market.
With a workforce of 1001-5000 employees, Pure continues to push the boundaries in digital radio and audio technology.
How Much Funding Has Pure Raised?
- Amount Raised: $6.8M
- Date: May 2016
- Lead Investors: Whitbread
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion into new markets and product lines.
- Amount Raised: $35M
- Date: July 2019
- Lead Investors: V.C. Nannapaneni
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing capacity and R&D initiatives.
Total Amount Raised: $41.8M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in Pure are as follows:
- V.C. Nannapaneni
- Details: V.C. Nannapaneni is a Hyderabad-based pharmaceuticals visionary who has invested in Pure in his personal capacity. He is known for his significant contributions to the pharmaceutical industry.
- Investment Focus Areas: Pharmaceuticals, healthcare, innovative technologies.
- Notable Investments: Pure, PURE EV.
- Whitbread
- Details: Whitbread is a well-established British multinational hotel and restaurant company. It operates several well-known brands, including Premier Inn and Costa Coffee.
- Investment Focus Areas: Hospitality, food and beverage, real estate.
- Notable Investments: Premier Inn, Costa Coffee, Pure.
Note: Information about other major investors was not found in the provided sources. The valuation status of Pure is not publicly disclosed.
What's Next for Pure?
Pure is poised for significant growth, with plans to expand its manufacturing capacity and develop high-speed, long-range electric vehicles. The company aims to deploy over 10,000 electric vehicles on the road during 2019-20, leveraging its state-of-the-art 18,000-sqft facility for R&D and production.
Future fundraising opportunities are likely, as Pure seeks strategic partnerships for vehicle financing and branding collaborations. These efforts will support the development of advanced battery modules and new EV models, positioning Pure as a leader in the electric vehicle market.
However, challenges such as scaling up manufacturing capacity and navigating competition in the EV market may arise. Ensuring successful commercial launches and maintaining strategic partnerships will be crucial for Pure's continued success.
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