Attron Automotive, a company specializing in motor and controller solutions for electric vehicles, has secured Rs 4.75 crore in its first funding round. Anicut Capital led the investment, with participation from Pontaq VC, Venture Catalyst, and Yashovardhan Shah.
The funds will be used to establish an assembly line, set up a prototyping facility, invest in research and development, and drive innovation within the company. Mosam Ugemuge, Founder and CEO of Attron Automotive, expressed the significance of this funding in supporting their expansion plans and fueling their innovation initiatives.
With the aim of capturing a significant market share, Attron Automotive has outlined milestones for the future. Their goal is to acquire 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’s IP-driven Made in India electric motor aligns with Niti Ayog’s EV policy, which aims to reduce reliance on Chinese EV components. Ashvin Chadha, Managing Partner at Anicut Capital, emphasized the importance of Attron’s proposition and its potential to provide the necessary impetus in the market.
In the future, Attron Automotive intends to focus on original equipment manufacturers (OEMs) who are interested in transitioning from Chinese powertrain components to domestically produced alternatives. Additionally, they aim to collaborate with other EV component OEMs, such as the battery, BMS, DC-DC Converter, and VCU manufacturers, to offer comprehensive EV solutions for retrofitting and new product development.
Having established a solid reputation in the field, Attron Automotive has created an exclusive motor configuration that achieves an impressive motor efficiency surpassing 97%. Their pre-integrated motor controller solutions cater to various applications in the automotive, defence, aviation, and agriculture sectors. After completing successful field testing with multiple OEMs, Attron Automotive is now ready for mass production following the establishment of its assembly line.
