Venture Catalysts and Anicut Capital Invest INR 4.75 cr in Attron Automotive – ET Auto

baua


Attron’s Seed funding round was led by Anicut Capital, with Venture Catalysts, Pontaq and Yashowardhan Shah as co-investors.

New Delhi: Venture Catalysts, an integrated incubator and largest early-stage investment firm, has announced its strategic investment in Attron Automotive, a trailblazer in precision-engineered motor and controller solutions driving the evolution of electric mobility. The company has raised INR 4.75 crore in Attron’s Seed funding round led by Anicut Capital and co-led by Venture Catalysts, the company said.

Pontaq VC, and Yashovardhan Shah(Angel investor) have also participated in the seed round. The company will use the funds to fuel the company’s mission of revolutionising electric mobility with cutting-edge technology and innovation, the company said in a media release.

As the electric vehicle (EV) market experiences unprecedented growth, the global demand for motor and controller solutions is on the rise.

The global EV motor controller market, valued at USD 7,730.9 million in 2021, is projected to reach USD 26,879.75 million by 2031. Concurrently, the EV motor market is expected to grow from USD 8.5 billion in 2022 to USD 56.95 billion by 2032, reflecting a surge in demand for electric vehicles and the critical role of motors and controllers in driving market expansion.

Attron Automotive specialises in delivering precision-engineered technology that maximises efficiency, enhances vehicle performance, and fosters a sustainable future. With customisable and future-ready solutions, Attron is at the forefront of driving the paradigm shift towards electric mobility, offering superior performance and environmental consciousness in every ride, the release added.

Attron’s Seed funding round was led by Anicut Capital, with Venture Catalysts, Pontaq and Yashowardhan Shah as co-investors.

“The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape. Attron’s pioneering motor and controller solutions epitomise precision engineering, efficiency, and reliability, establishing new standards in the automotive technology sector. We are excited to partner with Attron on their journey to redefine electric mobility and shape the future of transportation ,” Apoorva Ranjan Sharma, Director and MD of Venture Catalysts, said. “

  • Published On Mar 11, 2024 at 04:52 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


Sterling Tools Limited, the second largest automotive fastener manufacturer in India, has signed a Memorandum…

Ashok Leyland, the flagship company of the Hinduja Group has signed an MoU (Memorandum of…

Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy…