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Altigreen Raises Rs 300 Crore In Funding Led By Sixth Sense Ventures, Others

Feb 10, 2022•over 3 years ago

Amount Raised

₹3 Billion

Description

Electric commercial vehicle manufacturer Altigreen has raised Rs 300 crore ($ 40 million) in a fresh funding round led by Sixth Sense Ventures, along with Reliance New Energy (a wholly-owned subsidiary of Reliance Industries Limited), Xponentia Capital, Accurant International, USA and Momentum Venture Capital, Singapore.

Company Information

Company

Altigreen

About

The company will utilise the resources to boost manufacturing capacity, launch new products including light commercial vehicles and strengthen the company’s presence across the country. The company aims to expand its presence nationally and have point of sale in 60 cities in the next 15 months. Altigreen said this is the largest round made in the last mile transportation segment at this stage of financing by VCs. Altigreen has on-road a cargo three-wheeler on sale across a dozen cities, at present. Altigreen is a private limited company incorporated in India on February 8， 2013.