Venture Catalysts and Anicut Capital Invest Rs 4.75 crore Seed Capital in Attron Automotive

National, 12th March, 2024: Venture Catalysts, India’s first integrated incubator and largest early- stage investment firm, today announced its strategic investment in Attron Automotive, a trailblazer in precision-engineered motor and controller solutions driving the evolution of electric mobility. The company has raised Rs 4.75 crore in in Attron’s Seed funding round led by Anicut Capital and co-led by Venture Catalysts. Pontaq VC, and Yashovardhan Shah(Angel investor) have also participated in the seed round. The company will use the funds to fuel the company’s mission of revolutionising electric mobility with cutting-edge technology and innovation.

As the electric vehicle (EV) market experiences unprecedented growth, the global demand for motor and controller solutions is on the rise. The global EV motor controller market, valued at $7,730.9 million in 2021, is projected to reach $26,879.75 million by 2031. Concurrently, the EV motor market is expected to grow from $8.5 billion in 2022 to $56.95 billion by 2032, reflecting a surge in demand for electric vehicles and the critical role of motors and controllers in driving market expansion. Attron Automotive specialises in delivering precision-engineered technology that maximises efficiency, enhances vehicle performance, and fosters a sustainable future. With customisable and future-ready solutions, Attron is at the forefront of driving the paradigm shift towards electric mobility, offering superior performance and environmental consciousness in every ride.

The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape,” said Dr. Apoorva Ranjan Sharma, Director & MD of Venture Catalysts. “Attron’s pioneering motor and controller solutions epitomise precision engineering, efficiency, and reliability, establishing new standards in the automotive technology sector. We are excited to partner with Attron on their journey to redefine electric mobility and shape the future of transportation.

Attron Automotive’s product portfolio includes precision-engineered motors and advanced controllers that optimize performance across electric mobility, industrial automation, and aerospace applications. With patented topology and cutting-edge materials, Attron’s motors deliver superior efficiency and reduced torque ripple, ensuring optimal performance in diverse environments. Meanwhile, Attron’s controllers offer seamless integration and adaptability, empowering clients with advanced features such as adaptive algorithms and real-time monitoring.

“The success of our recent fundraising efforts will play a pivotal role in propelling Attron Automotive forward. Instrumental in bringing our cutting-edge motor and controller solutions to market readiness, these funds will ensure that we deliver products of unparalleled quality and innovation. Additionally, we’ve utilized the investment to establish a production facility capable of small batch production, catering to our initial demand with a capacity of up to 100 units per month,” stated Mosam Ugemuge, CEO of Attron Automotive. “We are now setting up a new production facility with a capacity of 8000 units per month, enabling us to meet the rapidly growing demand for our motor and controller solutions, particularly in the two-wheeler and three- wheeler segments, spanning both passenger and load carrier categories,” he added.

Attron’s Seed funding round was led by Anicut Capital, with Venture Catalysts, Pontaq and Yashowardhan Shah as co-investors.

In the ever-evolving landscape of startups, accelerator programs stand as the driving force propelling visionary ideas toward resounding triumph. These programs are not just a source of financial backing, but also serve as invaluable wellsprings of mentorship, connectivity to influential networks, and essential resources, all critical for startups to flourish and navigate the complexities of the industry. As we gaze into the horizon of 2024, this list spotlights four accelerators that have consistently left indelible marks on the journey of countless startups, providing a catalyst for growth and innovation. These accelerators not only offer funding but also serve as conduits to a wealth of knowledge, strategic guidance, and influential connections, making them key players in shaping the future success stories of the tech startup ecosystem. Below are the top 4 accelerators fueling tech-based startup success: India Accelerator India Accelerator, awarded the Best Accelerator of the country in 2021 by Startup India and first GAN partnered accelerator in India, provides a dynamic and highly supportive ecosystem for entrepreneurs. Backed with a couple of SEBI AIF, IA has 200+ startups in our portfolio, 1800+ angel investors and mentors in its network. With 9 co-working hubs, our vision is to create an inclusive ecosystem that can connect all relevant stakeholders in the economy- Government, Academia, Industry and the Startups. Our thesis is to invest in high potential early-stage entrepreneurs and help them scale, thus contributing to the vibrant entrepreneurial ecosystem in the country. Y Combinator Y Combinator, often referred to as YC, is one of the most prestigious and influential startup accelerators globally. Known for its highly competitive application process, Since 2005, YC has invested in nearly 3,000 companies including Airbnb, DoorDash, Stripe, Instacart, Dropbox, and Coinbase. They offer funding, mentorship, and a robust network of alumni to help startups succeed. The combined valuation of YC companies is over $300B. YC has programs and resources that support founders throughout the life of their company 9Unicorns 9Unicorns is a prominent Indian startup accelerator and early-stage venture fund that plays a pivotal role in fostering the growth of early-stage startups. Known for its diverse focus across industries such as technology, healthcare, consumer services, and fintech, 9Unicorns provides not only crucial seed funding but also extensive mentorship from seasoned entrepreneurs and industry experts. The accelerator’s support goes beyond financial backing, aiming to assist startups in refining their business models, improving their products or services, and preparing for subsequent rounds of funding. With a commitment to nurturing innovation, 9Unicorns stands as a key player in the Indian startup ecosystem, offering a platform for startups to showcase their potential and accelerate their journey to success. Venture Catalysts: Venture Catalysts is a prominent seed-stage accelerator in India that has made significant contributions to the startup ecosystem. Recognized for its comprehensive support, Venture Catalysts not only provides funding to early-stage startups but also offers strategic mentorship and access to a vast network of successful entrepreneurs and industry experts. With a focus on driving innovation and growth, Venture Catalysts plays a crucial role in nurturing and shaping the success stories of startups across various industries. The accelerator’s commitment to fostering entrepreneurship and providing a robust ecosystem makes it a noteworthy player in India’s dynamic startup landscape.

In the ever-evolving landscape of startups, accelerator programs stand as the driving force propelling visionary ideas toward resounding triumph. These programs are not just a source of financial backing but also serve as invaluable wellsprings of mentorship, connectivity to influential networks, and essential resources, all critical for startups to flourish and navigate the complexities of the industry. As we gaze into the horizon of 2024, this list spotlights four accelerators that have consistently left indelible marks on the journey of countless startups, providing a catalyst for growth and innovation. These accelerators not only offer funding but also serve as conduits to a wealth of knowledge, strategic guidance, and influential connections, making them key players in shaping the future success stories of the tech startup ecosystem.

Below are the top 4 accelerators fueling tech-based startup success:

India Accelerator

India Accelerator, awarded the Best Accelerator of the country in 2021 by Startup India and the first GAN-partnered accelerator in India, provides a dynamic and highly supportive ecosystem for entrepreneurs. Backed with a couple of SEBI AIF, IA has 200+ startups in our portfolio, and 1800+ angel investors and mentors in its network. With 9 co-working hubs, our vision is to create an inclusive ecosystem that can connect all relevant stakeholders in the economy- Government, Academia, Industry, and Startups. Our thesis is to invest in high-potential early-stage entrepreneurs and help them scale, thus contributing to the vibrant entrepreneurial ecosystem in the country.

Y Combinator

Y Combinator, often referred to as YC, is one of the most prestigious and influential startup accelerators globally. Known for its highly competitive application process, Since 2005, YC has invested in nearly 3,000 companies including Airbnb, DoorDash, Stripe, Instacart, Dropbox, and Coinbase. They offer funding, mentorship, and a robust network of alumni to help startups succeed. The combined valuation of YC companies is over $300B. YC has programs and resources that support founders throughout the life of their company

9Unicorns

9Unicorns is a prominent Indian startup accelerator and early-stage venture fund that plays a pivotal role in fostering the growth of early-stage startups. Known for its diverse focus across industries such as technology, healthcare, consumer services, and fintech, 9Unicorns provides not only crucial seed funding but also extensive mentorship from seasoned entrepreneurs and industry experts. The accelerator’s support goes beyond financial backing, aiming to assist startups in refining their business models, improving their products or services, and preparing for subsequent rounds of funding. With a commitment to nurturing innovation, 9Unicorns stands as a key player in the Indian startup ecosystem, offering a platform for startups to showcase their potential and accelerate their journey to success.

Venture Catalysts:

Venture Catalysts is a prominent seed-stage accelerator in India that has made significant contributions to the startup ecosystem. Recognized for its comprehensive support, Venture Catalysts not only provides funding to early-stage startups but also offers strategic mentorship and access to a vast network of successful entrepreneurs and industry experts. With a focus on driving innovation and growth, Venture Catalysts plays a crucial role in nurturing and shaping the success stories of startups across various industries. The accelerator’s commitment to fostering entrepreneurship and providing a robust ecosystem makes it a noteworthy player in India’s dynamic startup landscape.