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National, 11th March, 2024: Venture Catalysts, India’s first integrated incubator and largest early-stage investment firm, today announced its strategic investment in Attron Automotive, a trailblazer in precision-engineered motor and controller solutions driving the evolution of electric mobility. The company has raised Rs 4.75 crore in in Attron’s Seed funding round led by Anicut Capital and co-led by Venture Catalysts.
Pontaq VC, and Yashovardhan Shah(Angel investor) have also participated in the seed round. The company will use the funds to fuel the company’s mission of revolutionising electric mobility with cutting-edge technology and innovation.
As the electric vehicle (EV) market experiences unprecedented growth, the global demand for motor and controller solutions is on the rise. The global EV motor controller market, valued at $7,730.9 million in 2021, is projected to reach $26,879.75 million by 2031. Concurrently, the EV motor market is expected to grow from $8.5 billion in 2022 to $56.95 billion by 2032, reflecting a surge in demand for electric vehicles and the critical role of motors and controllers in driving market expansion. Attron Automotive specialises in delivering precision-engineered technology that maximises efficiency, enhances vehicle performance, and fosters a sustainable future. With customisable and future-ready solutions, Attron is at the forefront of driving the paradigm shift towards electric mobility, offering superior performance and environmental consciousness in every ride.
“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.”
Attron Automotive’s product portfolio includes precision-engineered motors and advanced controllers that optimize performance across electric mobility, industrial automation, and aerospace applications. With patented topology and cutting-edge materials, Attron’s motors deliver superior efficiency and reduced torque ripple, ensuring optimal performance in diverse environments. Meanwhile, Attron’s controllers offer seamless integration and adaptability, empowering clients with advanced features such as adaptive algorithms and real-time monitoring.
“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’s Seed funding round was led by Anicut Capital, with Venture Catalysts, Pontaq and Yashowardhan Shah as co-investors.