Attron Automotive Raises Rs 4.75 Cr from Anicut Capital, Pontaq VC, Venture Catalyst and Yashovardhan Shah
Summary
The fundraise will also help them in market expansion and accelerating their growth journeyAttron Automotive, a leading provider of innovative motor and controller solutions for electric vehicles (EVs), today announced the successful completion of the first round of funding, raising a total of 4.75 crores. The funds will be utilized to support the companys key growth initiatives, including the setup of an assembly line, establishment of a prototyping facility, team expansion, and research and development efforts to drive innovation in existing and new technologies.The infusion of funds will enable Attron Automotive to make significant progress towards achieving its goals - the company plans to set up an assembly line with an initial capacity of 10,000 units per month with an aim to expand it to 70,000 units per month within the next five years. Furthermore, Attron Automotive aims to collaborate with other EV component OEMs, such as battery, BMS, DC-DC Converter, and VCU manufacturers, to offer complete EV solutions for retrofitting and new product development.With a successful track record in the industry, Attron Automotive has developed a proprietary motor topology that achieves motor efficiency exceeding 97%. The companys proprietary technology delivers exceptional motor efficiency and pre-integrated solutions for various applications, including automotive, defense, aviation, and agriculture. Momo, Bira, Sugar Cosmetics, Earth rhythm, Wingreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, and Grip Invest, to name a few.