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§ Private Profile · Bengaluru, Karnataka, India
EV OEM designing and manufacturing all-electric commercial three-wheelers with proprietary powertrains for last-mile logistics.
Altigreen Propulsion Labs is a Bengaluru, India-based manufacturer that designs and produces commercial electric three-wheelers for last-mile cargo and passenger logistics. The company operates a manufacturing facility with an annual production capacity of 55,000 vehicles and currently has over 5,000 electric vehicles on the road across more than 120 cities. Transitioning from an aftermarket drivetrain supplier to an original equipment manufacturer in 2021, the enterprise now sells its neEV-branded vehicles directly to fleet operators and driver-owners through a network of 20 dealerships. Supported by a workforce of over 250 employees, the firm is backed by approximately $40 million in Series A funding from lead investors Reliance New Energy and Sixth Sense Ventures, alongside early backing from Accel. The company was founded in 2013 by Amitabh Saran, Shalendra Gupta, Lasse Moklegaard, and John Bangura.
Altigreen Propulsion Labs has raised $79.8M across 1 funding round.
Altigreen Propulsion Labs has raised $79.8M in total across 1 funding round.
Altigreen Propulsion Labs has raised $79.8M across 1 funding round. Most recently, it raised $79.8M Series A in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 11, 2022 | $79.8M Series A | Accurant International, Momentum Venture Capital, Nikhil Vora, Xponentia Capital | Reliance NEW Energy Limited | Announced |
Altigreen Propulsion Labs has raised $79.8M in total across 1 funding round.
Altigreen Propulsion Labs's investors include Accurant International, Momentum Venture Capital, Nikhil Vora, Xponentia Capital, Reliance New Energy Limited.