$25 Million Approved for Kinetic Green’s Electric Vehicle Empower
Kinetic Green has raised a $25-million investment from Greater Pacific Capital. By its industry-first Electric Luna, heralding the start of Series A fundraising by the company. The company has set a target of raising $40 million.
Kinetic Green Charts Growth Course with $25 Million Investment
The $25 million that Greater Pacific Capital is putting into Kinetic Green represents a serious leg up in its quest to electrify India. Moreover, this is the first external equity fundraise for the firm. It becomes significant as it scales up its operations to ride an Indian electric vehicle market that still has a low penetration rate of just 6%.
The new capital will play a critical role in scaling Kinetic Green’s growth. Substantially, funds will flow to marketing and distribution networks to further popularize the Electric Luna and expand accessibility. Simultaneously, the company will build up its manufacturing capacity at the Supa, Maharashtra, facility to meet the expected demand. Besides these, a dedicated investment in research and development will fuel innovation. It aims to drive the evolution of future electric mobility solutions.
Due to this, the E-Luna has been widely appreciated across India since January 2024. Kinetic Green has indeed proved its capability for developing products that appeal to consumers. On the strength of this huge investment and a proven product in its basket. The company is now all set and primed to further expedite the charge towards leading India’s electric mobility revolution.
Kinetic Green Pedals to Global Dominance with $25 Million Boost
The ambitions of the company go much beyond India. The company has kept the US market in its crosshairs for electric two- to three-wheelers. While it is also spreading a global net for expansion, It is, thus, this strategic vision of Kinetic Green that led to a unique collaboration with the Italian family of Lamborghini to develop a premium range of golf carts.
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Nandan Desai of GPC, who is a strategic investor, will join the board of Kinetic Green and bring in such valuable expertise. On its part, the $25 million investment, involving common equity, convertible preference shares, and debentures, forms solid ground for growth. However, in order for Kinetic Green to realize its full potential, it requires another $15 million of funding by the end of 2024.
With a clear roadmap and strong strategic backing, Kinetic Green is all set to be one of the major electric vehicle companies worldwide.
Leaders Envision a Greener Future Through Strategic Partnership
According to Sulajja Firodia Motwani, the visionary leader at the helm of the company, their partnership with Greater Pacific Capital has been a key factor in furthering their mission to bring about a revolution in sustainable mobility. He observed that both entities fit very strategically into a cleaner and greener future.
