ALTIGREEN raises $40mn funding

Altigreen raised `300 crore 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 firm is changing the face of last-mile delivery and, with this funding, will accelerate towards its next phase of growth. The funds will be utilised to ramp up production capabilities, accelerate R&D, fast-pace EV adoption, and develop a robust pan-India network. The investment is led by Sixth Sense Ventures, with Reliance New Energy (a wholly-owned subsidiary of RIL) and Xponentia Capital, among others.