Total amount raised
$41.8 Million
Latest funding date
07/01/2019
Location
Pure has successfully raised funding over two rounds, with notable investors including V.C. Nannapaneni and Whitbread. The latest funding was raised from a Venture - Series Unknown round.
Keep reading to explore the intricacies of Pure's fundraising journey and the investors backing this innovative platform.
What Is Pure?
Pure is a digital radio manufacturer and engineering firm based in Kings Langley, Hertford, United Kingdom. The company operates in various industries, including broadcasting, internet, manufacturing, market research, music, and public relations.
With a significant employee base ranging from 1001 to 5000 employees, Pure has established itself as a notable player in its field. The company has successfully raised funding through venture rounds, with investors such as V.C. Nannapaneni and Whitbread backing its innovative platform.
How Much Funding Has Pure Raised?
- Series Unknown
- Amount Raised: USD 35,000,000
- 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, including the installation of an automated assembly line.
- Corporate Round
- Amount Raised: USD 6,800,000
- Date: May 2016
- Lead Investors: Whitbread
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and market expansion efforts.
Total Amount Raised: USD 41,800,000. Current Valuation: Not publicly disclosed.
Key Investors
- V.C. Nannapaneni
- Details: V.C. Nannapaneni is a Hyderabad-based pharmaceuticals visionary who invested in Pure in his personal capacity. He is known for his significant contributions to the pharmaceutical industry.
- Investment Focus Areas: Pharmaceuticals, Electric Vehicles, Sustainable Technologies
- Notable Investments: Pure, PURE EV
- Whitbread
- Details: Whitbread is a well-known British multinational hotel and restaurant company. They have a diverse portfolio and are recognized for their strategic investments in various sectors.
- Investment Focus Areas: Hospitality, Food and Beverage, Real Estate
- Notable Investments: Premier Inn, Costa Coffee, Pure
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. This expansion presents a substantial opportunity for Pure to solidify its position in the rapidly evolving electric vehicle market.
Future fundraising opportunities are likely as Pure continues to innovate, particularly in developing HVDC electric truck/bus lithium battery modules. Strategic partnerships for vehicle financing and branding will also play a crucial role in supporting this growth. However, scaling up manufacturing to meet ambitious targets and successfully launching new EV models will be challenging. Maintaining strategic partnerships and competing in a dynamic market will require continuous effort and adaptation.
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