Mukesh Ambani to Support Altigreen Worth INR 7 Billion for EV Manufacturing
Ambani’s Reliance New Energy Ltd., Xponentia Capital Partners, Momentum Venture Capital and Accurant International also participated.
May 29, 2023. By EI News Network
Mukesh Ambani among its supporters is looking for a valuation of about USD 350 million in the new round.
Altigreen was incorporated in 2013. The company deals in designing and manufacturing electric cargo three-wheelers and has a yearly production capacity of 55,000 vehicles.
The firm procured about INR 3 billion in a series A round in 2022 that was led by Sixth Sense Ventures.
Ambani’s Reliance New Energy Ltd., Xponentia Capital Partners, Momentum Venture Capital and Accurant International also participated.
Altigreen is in EV technology and transportation solutions for the last mile.
The entity’s mobility platforms are made in India and developed on domestic technology with over 93% domestic value-add.
please contact: contact@energetica-india.net.
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