Atul Greentech secures INR 32.50 crore funding
Atul Greentech Private Limited, the electric three-wheeler manufacturing arm of Atul Auto Limited, a publicly traded company, has successfully raised Rs. 32.50 crore ($4.1 million) through a series of fundraising initiatives. This financing places the company’s valuation at Rs. 950 crore ($121.3 million). Notable investors in this funding round comprise the parent organization Atul Auto Limited, distinguished investor Vijay Kedia, foreign portfolio investor Nav Capital VCC – Nav Capital Emerging Star Fund based in Singapore, and the Mahendra Patel family.
The money raised will be crucial to Atul Greentech’s ambitious growth objectives, which include developing cutting-edge technologies to transform the electric three-wheeler market, expanding its product line, and improving its production capabilities.
Atul Greentech debuted its innovative electric three-wheelers, Atul Mobili and Atul Energie, during the Auto Expo 2023 in New Delhi, motivated by a resolute commitment to revolutionize mobility solutions. These cars demonstrate the company’s commitment to excellence in design, efficiency, and environmental sustainability, with an emphasis on fusing cutting-edge technology with unmatched performance.
Atul Energie, the first electric cargo three-wheeler in the industry with a dual battery pack for an unheard-of 195 km range, is at the heart of Atul Greentech’s innovation. Both Atul Mobili and Atul Energie, which are powered by lithium-ion batteries and integrated with motor drives from market leader Valeo, are prime examples of the company’s dedication to providing high-performance, environmentally friendly mobility solutions.
With its cutting-edge product line and astute investments, Atul Greentech is well-positioned to completely transform the market for electric three-wheelers and accelerate the shift to a more environmentally friendly and sustainable future. The company is a forerunner in the electric vehicle (EV) market, setting new standards for innovation and promoting good change on a worldwide scale thanks to its steadfast dedication to technological excellence and environmental responsibility.
Atul Greentech Private Limited is a leader in the electric vehicle sector, committed to creating innovative solutions that balance sustainability, innovation, and performance. The company is leading the way in the sustainable transportation revolution with its wide range of products, which includes electric three-wheelers for both passengers and goods.
