“Attron Automotive: Pioneering Electric Vehicle Powertrain Solutions – Exploring the Impact of Their Recent Funding and Growth Initiatives”
Attron Automotive, a leading provider of motor and controller solutions for electric vehicles (EVs), has recently announced the successful closure of a funding round, raising ₹4.75 crores. The investment was led by Anicut Capital, with participation from Pontaq VC, Venture Catalyst, and Yashovardhan Shah.
The capital infusion will be instrumental in supporting Attron Automotive’s key growth initiatives, including the development of an assembly line, establishment of a prototyping facility, team expansion, and research and development activities.
Founded by Chander Udhay Singh, Mosam Ugemuge, Shubham Pode, and Mohit Borkar, Attron Automotive has been at the forefront of designing, developing, and manufacturing EV components that are reshaping the current electric mobility infrastructure. The company’s innovative technology enables the production of highly efficient motors and pre-integrated solutions for a wide range of applications, spanning automotive, defence, aviation, and agriculture sectors.
Expressing his enthusiasm about the recent funding, Mosam Ugemuge, Founder and CEO of Attron Automotive, emphasized the strategic value brought by Anicut Capital. He stated, “Anicut Capital’s extensive network will introduce us to potential customers, partners, suppliers, and other investors, opening up new opportunities for collaborations and resources. Post fundraise, we have outlined a set of milestones aimed at capturing a significant market share.”
Ugemuge outlined the ambitious goals set by Attron Automotive, aiming to secure a 10% market share in the 3 and 4-wheeler load carriers’ segment within the next three years. Leveraging their proprietary motor and controller E-powertrain solutions, the company is poised to make significant strides in the rapidly evolving EV industry.
“Investments in Attron Automotive signify the growing confidence in the potential of electric vehicle powertrain solutions. With our innovative technology and strategic partnerships, we are poised to revolutionize the electric mobility landscape and contribute to a greener future.”– Mosam Ugemuge, Founder and CEO of Attron Automotive.
With extensive field testing successfully completed with various original equipment manufacturers (OEMs), Attron Automotive is now ready for large-scale production following the establishment of its state-of-the-art assembly line. The company plans to initially achieve a capacity of 10,000 units per month and scale it up to an impressive 70,000 units per month within the next five years.
Furthermore, Attron Automotive has its sights set on capturing the market demand from OEMs seeking to transition from Chinese powertrain components to domestically manufactured solutions. Collaborations with other EV component OEMs, including battery, DC-DC Converter, BMS, and VCU manufacturers, are also on the agenda as the company aims to provide comprehensive EV solutions for retrofitting and new product development.
The recent funding injection positions Attron Automotive favorably to advance its mission of driving sustainable mobility through cutting-edge electric vehicle powertrain solutions. As the demand for EVs continues to surge, Attron Automotive is primed to play a pivotal role in the industry’s transformation.