Atul Greentech Private Limited, the subsidiary of Atul Auto Limited specializing in electric three-wheeler manufacturing, has successfully raised Rs. 32.50 crore ($4.1 million) through various fundraising endeavors. This financing has led to the company being valued at Rs. 950 crore ($121.3 million). Among the investors in this funding round are Atul Auto Limited, notable investor Vijay Kedia, foreign portfolio investor Nav Capital VCC – Nav Capital Emerging Star Fund, and the Mahendra Patel family.
The capital raised will play a crucial role in supporting Atul Greentech’s ambitious growth strategies, which include expanding its product range, strengthening manufacturing capabilities, and pioneering advanced technologies to transform the electric three-wheeler sector.
Motivated by a strong dedication to transform transportation solutions, Atul Greentech introduced its innovative electric three-wheelers, Atul Mobili and Atul Energie, during the Auto Expo 2023 in New Delhi. These vehicles are designed to merge cutting-edge technology with superior performance, showcasing the company’s dedication to excellence in design, efficiency, and environmental sustainability.
At the heart of Atul Greentech’s innovation lies Atul Energie, the industry’s first electric cargo three-wheeler equipped with a dual battery pack, offering an unprecedented range of 195 km. Utilizing lithium-ion batteries and motor drives from leading industry player Valeo, both Atul Mobili and Atul Energie exemplify the company’s commitment to delivering high-performance, sustainable mobility solutions.
Through its inventive range of products and strategic investments, Atul Greentech stands ready to transform the electric three-wheeler industry, leading the transition to a more environmentally friendly and sustainable future. The company’s unwavering focus on technological innovation and environmental responsibility establishes it as a pioneer in the EV industry, setting new standards for innovation and driving positive global change.
