EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital

EV motor and controller startup Attron Automotive has raised Rs 4.75 crore in a seed funding round led by Anicut Capital and co-led by Venture Catalysts.

Attron's mission is to lead the evolution of electric mobility through precision-engineered motor and controller solutions, aiming to enhance vehicle performance and promote a sustainable future.

Participation from other investors  

The round also saw participation from notable entities, including Pontaq VC and angel investor Yashovardhan Shah.

Apoorva Ranjan Sharma, Director & MD, Venture Catalysts, said, “The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape. Attron’s pioneering motor and controller solutions epitomise precision engineering, efficiency, and reliability, establishing new standards in the automotive technology sector.”

Expanding product portfolio

Attron Automotive's product lineup is distinguished by its precision-engineered motors and advanced controllers, designed to optimize performance across various applications including electric mobility, industrial automation, and aerospace.

The startup is known for its efficiency and reduced torque ripple, thanks to its patented topology. Meanwhile, Attron's controllers are designed for easy integration and adaptability, featuring advanced capabilities like adaptive algorithms and real-time monitoring, ensuring optimal performance in diverse environments.

Scaling up production 

With the fresh capital, Attron Automotive plans to significantly scale up its operations. Mosam Ugemuge, CEO of Attron Automotive, said the company plans to set up a new production facility capable of producing 8,000 units per month. This expansion aims to meet the surging demand for Attron's motor and controller solutions, especially in the two-wheeler and three-wheeler segments, covering both passenger and load carrier categories. 

The global electric vehicle (EV) market is witnessing unprecedented growth, with the EV motor controller market expected to soar from $7,730.9 million in 2021 to $26,879.75 million by 2031. Similarly, the EV motor market is projected to expand from $8.5 billion in 2022 to $56.95 billion by 2032.