Altigreen raises $40mn funding led by Sixth Sense Ventures

India’s leading commercial EV manufacturer Altigreen raises ~Rs 300 crore (approx. US$ 40 Million) through its Series A round, to boost its EV manufacturing and launch new products including LCVs and strengthen its countrywide presence. With its road-ready commercial EVs, powered by its proprietary drivetrain technology the company is already changing the face of last-mile delivery and, with this funding, will rapidly accelerate towards its next phase of growth.
The freshly raised funds will be utilized to ramp up production capabilities, accelerate R&D, fast-paced EV adoption, and develop a robust Pan-India network to offer the best and cleanest last-mile transportation solutions in India. The investment is 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.