E-vehicle maker startup Pi Beam raises $705k from GAIL

Electric utility vehicle maker Pi Beam has raised around $705,700 from state-owned natural gas distribution company GAIL (India) in a bridge funding round. Founded in 2013 and incubated at IIT Madras, the startup has raised a total of $1 million in 2019, CEO Visakh Sasikumar said. The startup is also backed by Eagle10 Ventures, Bluehill Capital and Keiretsu Forum.