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EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital

IndianStartupNewsIndianStartupNews · 1y ago
EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital
Medial

EV motor and controller startup Attron Automotive has secured Rs 4.75 crore in a seed funding round led by Anicut Capital and co-led by Venture Catalysts. Attron aims to revolutionize electric mobility with its precision-engineered motor and controller solutions, promoting sustainability and enhancing vehicle performance. The funding round also saw participation from other investors, including Pontaq VC and angel investor Yashovardhan Shah. Attron plans to use the investment to expand its operations, including setting up a new production facility capable of producing 8,000 units per month, in response to the increasing demand in the electric vehicle market.

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IndiGrid raises $4 Mn led by Cactus Venture Partners

EntrackrEntrackr · 22d ago
IndiGrid raises $4 Mn led by Cactus Venture Partners
Medial

IndiGrid raises $4 Mn led by Cactus Venture Partners Electric vehicle (EV) component maker IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. Electronics systems design and manufacturing startup IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. The proceeds will be allocated towards expanding production capacity and offerings, enhancing automation, ramping up hiring and broadening presence both in India and other global markets, IndiGrid Technology said in a press release. Co-founded in 2015 by Sameer Narang and Rishab Puri, IndiGrid Technology is a full stack electronics component manufacturer with in-house design and manufacturing capabilities. The electronics system design and manufacturing (ESDM) startup makes battery packs, motor controllers, vehicle control units, components for EV drivetrains, among others. “Having matured in the automotive industry, we have diversified to increase our product portfolio by acting on the evidently growing market traction in the consumer goods sector where we began acquiring some key clients,” said Sameer Narang, co-founder of IndiGrid Technology. The latest round comes more than a year after Cactus Partners led IndiGrid’s $5 million Series A round in June 2024. Since then, the company has diversified into consumer electronics and now also caters to companies like Hella, Rosenberger, Sensetek, Sandhar, IFB, Revolt, among others. IndiGrid reported a revenue of Rs 108.5 crore in the fiscal year 2024-25 (FY25) and it is targeting a top line of Rs 350 crore to Rs 380 crore in FY26. It claims to operate at high single-digit EBITDA margin and projects to clock double-digit EBITDA margin growth in the next couple of years.

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