EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital

Anicut Capital and Venture Catalysts led a seed fundraising round that brought in Rs 4.75 crore for Attron Automotive, a firm that makes EV motors and controllers. With precision-engineered motor and controller solutions, Attron's purpose is to drive the evolution of electric mobility with the goal of promoting a sustainable future and improving vehicle performance. Other investors' involvement   Notable organizations like Pontaq VC and angel investor Yashovardhan Shah also participated in the round. Increasing the range of products offered Because of its innovative design, the startup is renowned for its efficiency and decreased torque ripple. Attron's controllers, on the other hand, are made to be easily integrated and versatile. They have sophisticated features like real-time monitoring and adaptive algorithms, which guarantee optimal performance in a variety of settings. Increasing output With the additional funding, Attron Automotive intends to expand its business considerably. Attron Automotive's CEO, Mosam Ugemuge, announced that the business intends to establish a new production facility with a monthly production capacity of 8,000 vehicles.

With this development, Attron hopes to address the increasing demand in the two- and three-wheeler segments—which include both passenger and load carrier categories—for its motor and controller solutions.The market for electric vehicle (EV) motor controllers is predicted to rise from $7,730.9 million in 2021 to $26,879.75 million by 2031, reflecting the unparalleled growth of the worldwide EV industry. Likewise, the market for electric vehicles (EVs) is anticipated to grow from $8.5 billion in 2022 to $56.95 billion by 2032. Inoorva "The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape," stated Ranjan Sharma, Director & MD, Venture Catalysts. Pioneering motor and controller solutions from Attron set new benchmarks in the automotive technology industry by exemplifying efficiency, dependability, and precision engineering.