Attron Automotive secures INR 4.75 cr as seed capital

Attron Automotive, a company specializing in motor and controller solutions for electric mobility, has raised INR 4.75 crore in its seed funding round, led by Anicut Capital and co-led by Venture Catalysts. Additionally, Pontaq VC and Yashovardhan Shah, an angel investor, contributed to the funding. The funds will be used to support Attron’s mission of advancing electric mobility through technology and innovation.

“The success of our recent fundraising efforts will play a pivotal role in propelling Attron Automotive forward. Instrumental in bringing our cutting-edge motor and controller solutions to market readiness, these funds will ensure that we deliver products of unparalleled quality and innovation. Additionally, we’ve utilized the investment to establish a production facility capable of small batch production, catering to our initial demand with a capacity of up to 100 units per month,” stated Mosam Ugemuge, CEO of Attron Automotive.

“We are now setting up a new production facility with a capacity of 8000 units per month, enabling us to meet the rapidly growing demand for our motor and controller solutions, particularly in the two-wheeler and three-wheeler segments, spanning both passenger and load carrier categories,” he added.

Attron Automotive provides a variety of motors and controllers for diverse sectors, including electric mobility, industrial automation, and aerospace. These motors utilize patented topology and advanced materials, ensuring efficient performance and minimal torque ripple in varied environments. Furthermore, Attron’s controllers are designed for easy integration and adaptability, offering features such as adaptive algorithms and real-time monitoring. As the electric vehicle (EV) market grows rapidly, there is an increasing global demand for motor and controller solutions. 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. Similarly, the EV motor market is expected to grow from USD 8.5 billion in 2022 to USD 56.95 billion by 2032, indicating a surge in demand for electric vehicles – added the company statement.

“The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape,” said Dr. Apoorva Ranjan Sharma, Director & MD of Venture Catalysts. “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.”

Also read: EMO Energy raises $1.2M seed funding for its battery technology platform