Kinetic Green Secures $25 Million Investment from GPC
ECONOMY & POLICY

Kinetic Green Secures $25 Million Investment from GPC

Electric vehicle (EV) manufacturer Kinetic Green secured an investment of Rs 2.09 billion from private equity firm Greater Pacific Capital (GPC), as part of a Series A fundraising round aimed at raising up to $40 million.

The company intends to use the funds to scale up production at its manufacturing facility in Supa, Maharashtra, and to market and distribute its existing products, including the newly launched ELuna. Additionally, the investment will support research and development of new products.

Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, stated that the partnership with Greater Pacific Capital represents a significant milestone for the company. She highlighted that Kinetic Green?s mission has been to lead the transition to sustainable mobility and make electric vehicles more accessible. She noted that this investment would help enhance the company?s capabilities, advance zero-emission transportation, and significantly contribute to India?s energy transition goals.

Kinetic Green offers a broad range of EVs, including electric three-wheelers, cargo vehicles, and passenger vehicles. The company has recently launched electric two-wheelers under the Kinetic Green brand and has sold over 100,000 EVs to date.

Ketan Patel, founder and CEO of GPC, pointed out the importance of India?s energy transition for the global Net Zero objectives. He mentioned that with India poised to become the third-largest economy in the next 4-5 years and its middle class rapidly expanding, the electrification of transportation would be a crucial part of this transition. Patel emphasized that Kinetic Green and products like the ELuna are well-positioned to offer innovative and desirable electric vehicles to India?s large, young, and growing population.

Previously, Kinetic Green had partnered with energy solutions provider Exicom to acquire advanced lithium-ion batteries for its e-rickshaws.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Electric vehicle (EV) manufacturer Kinetic Green secured an investment of Rs 2.09 billion from private equity firm Greater Pacific Capital (GPC), as part of a Series A fundraising round aimed at raising up to $40 million. The company intends to use the funds to scale up production at its manufacturing facility in Supa, Maharashtra, and to market and distribute its existing products, including the newly launched ELuna. Additionally, the investment will support research and development of new products. Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, stated that the partnership with Greater Pacific Capital represents a significant milestone for the company. She highlighted that Kinetic Green?s mission has been to lead the transition to sustainable mobility and make electric vehicles more accessible. She noted that this investment would help enhance the company?s capabilities, advance zero-emission transportation, and significantly contribute to India?s energy transition goals. Kinetic Green offers a broad range of EVs, including electric three-wheelers, cargo vehicles, and passenger vehicles. The company has recently launched electric two-wheelers under the Kinetic Green brand and has sold over 100,000 EVs to date. Ketan Patel, founder and CEO of GPC, pointed out the importance of India?s energy transition for the global Net Zero objectives. He mentioned that with India poised to become the third-largest economy in the next 4-5 years and its middle class rapidly expanding, the electrification of transportation would be a crucial part of this transition. Patel emphasized that Kinetic Green and products like the ELuna are well-positioned to offer innovative and desirable electric vehicles to India?s large, young, and growing population. Previously, Kinetic Green had partnered with energy solutions provider Exicom to acquire advanced lithium-ion batteries for its e-rickshaws.

Next Story
Infrastructure Urban

Govt approves NPCIL-NTPC JV company ASHVINI to start nuclear power generation

The Government on September 11, 2024 accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture (JV) of Nuclear Power Corporation of India Limited – NPCIL (51%) and NTPC Ltd. (49%) to build, own & operate nuclear power plants in India in accordance with provisions of the Atomic Energy Act. Additionally Govt. of India has approved transfer of Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) 4x700 MWe based on indigenous PHWR technology, from NPCIL to the JV Company ASHVINI. The Govt has also approved exemption to NPCIL to invest more than Rs 5 billion and exemptio..

Next Story
Infrastructure Urban

CRC Group partners with Dubai’s Killa Design for luxury Noida project

Noida-based real estate developer CRC Group has teamed up with renowned Dubai architect Shaun Killa to design an ultra-luxury residential project in Greater Noida. Shaun Killa, known for iconic structures such as Dubai's Museum of the Future and the Bahrain World Trade Centre, brings his expertise in sustainability and innovation to the collaboration. Killa expressed excitement about the partnership, stating, "Our goal is to create a design that stands the test of time, respects the environment, and complements the culture of the region." The project, set to feature between 375 to 400 luxury u..

Next Story
Infrastructure Urban

Nexus Venture sells stake in India Shelter Finance for Rs 4.82 billion

Venture capital firm Nexus Venture Partners divested a 5.97% stake in India Shelter Finance Corporation for Rs 4.82 billion through open market transactions. India Shelter Finance, based in Gurugram, caters to first-time home loan buyers in Tier-II and Tier-III cities, focusing on the low- and middle-income segments. Nexus, via its affiliates Nexus Ventures III and Nexus Opportunity Fund II Ltd, sold 6.4 million shares in two bulk deals on the BSE, priced between Rs 752.35 and Rs 753.27 per share, resulting in a total deal value of Rs 4.81 billion. This transaction reduced Nexus' stake in the ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000