Early-Stage Investor Backs Startup Developing Electric Vehicle Motors

Attron Automotive
Preeti Bali / 1:35 pm / March 12, 2024

Venture Catalysts, a firm specializing in nurturing and funding young companies, has announced a strategic investment in Attron Automotive. This startup develops and manufactures precision-engineered motors and controllers, key components for electric vehicles.

The funding round, totaling Rs 4.75 crore (approximately $573,956), was led by Anicut Capital with Venture Catalysts as a co-lead investor. Additional participation came from Pontaq, a venture capital firm, and Yashowardhan Shah, an angel investor.

Funds Fuel Innovation in Electric Mobility

Attron Automotive plans to utilize the raised capital to advance its mission of revolutionizing electric mobility through cutting-edge technology. The company’s product line focuses on high-performance electric motors and advanced controllers suitable for various applications, including electric vehicles, industrial automation, and even aerospace.

Attron’s technology boasts patented motor designs and utilizes advanced materials to deliver superior efficiency and minimize torque ripple. This translates to optimal performance across diverse operating environments, according to a company statement.

Scaling Up Production to Meet Demand

“The successful completion of this funding round is a critical step forward for Attron Automotive,” stated Mosam Ugemuge, CEO of the company. “These resources will be instrumental in setting up our imaginative motor and controller deals with any consequences regarding deal to general society and ensuring we convey aftereffects of remarkable quality.”

Ugemuge further elaborated on the company’s plans to utilize the funding. “Establishing a new production facility with a monthly capacity of 8,000 units is our current initiative. This will allow us to address the rapidly growing demand for our products, particularly in the two-wheeler and three-wheeler electric vehicle segments, encompassing both passenger and cargo transportation applications.”

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