Atul Greentech Secures INR 32.50 Crore Funding

Key Highlights:

•   Atul Greentech raised INR 32.50 crore ($4.1 million) from investors Atul Auto, Vijay Kedia, Nav Capital VCC, and the Mahendra Patel family.
•   Their electric three-wheelers, Mobili and Energie, were showcased at Auto Expo 2023.
•   Atul Greentech focuses on sustainability and technology.
•   The funds will fuel their growth plans.

Atul Greentech Private Limited, a subsidiary of Atul Auto Limited, has successfully raised INR 32.50 crore ($4.1 million) from various fundraising initiatives.

A group of stakeholders contributed to the funding round, including parent company Atul Auto Limited, renowned investor Vijay Kedia, Singapore-based foreign portfolio investor Nav Capital VCC - Nav Capital Emerging Star Fund, and the Mahendra Patel family. This support by investors demonstrates trust in Atul Greentech's vision and ability to revolutionize the electric mobility market.

The funds that were raised will be important in accelerating Atul Greentech's ambitious expansion goals. To strengthen its position as a leader in the electric three-wheeler market, the firm plans to increase its product portfolio, improve manufacturing capabilities, as well as develop cutting-edge technology.

Impressive Valuation

The investment values Atul Greentech at Rs. 950 crore ($121.3 million), highlighting the company's expanding prominence and market potential in the electric vehicle (EV) industry.

Atul Energie: Industry's First Dual Battery Pack Electric Cargo Three-Wheeler

Atul Greentech's innovation focuses on the Atul Energie, the industry's first electric cargo three-wheeler with a dual battery pack and a range of 195 kilometers. Atul Greentech's vehicles are powered by lithium-ion batteries and include Valeo motor drives, setting the standard for design, efficiency, and environmental stewardship.

Atul Greentech is known for its electric three-wheelers, which include the Mobili passenger and Energie cargo models. These vehicles, introduced at the Auto Expo 2023 in New Delhi, represent a turning point in the EV market, combining cutting-edge technology with greater performance and environmental sustainability.

Also Read: Altigreen EVs Now Fully Eligible for Government Subsidies Under EMPS 2024

About Atul Greentech Private Limited

Atul Greentech Private Limited is leading the way in making electric vehicles. They focus on creating advanced solutions that balance performance, sustainability, and innovation. 

Their product portfolio includes electric three-wheelers for passengers and cargo, putting them at the forefront of the move towards sustainable transportation.

CMV360 Says

Atul Greentech's recent funding success of INR 32.50 crore ($4.1 million) shows that more people believe in their plan to make electric vehicles. With investments from Atul Auto Limited, Vijay Kedia, and others, the company is now worth Rs. 950 crore ($121.3 million), which highlights its growing importance in the EV sector.