| Electric cargo vehicle manufacturing startup Altigreen is looking to raise $85M (7B rupees) in fresh funding. The firm is aiming for a valuation of $350M in the upcoming round.
Fresh funds will enable the firm to scale production and develop new
models. - CEO Amitabh Saran informed Bloomberg that the firm expects to close the fundraising by July.
- Last year, the firm raised ~$36M (3B rupees) through a Series A round led by Sixth Sense Ventures.
- The
firm is backed by billionaire Mukesh Ambani's Reliance New Energy,
Xponentia Capital Partners, Momentum Venture Capital, and Accurant
International.
- Altigreen claims that it has a current annual production capacity of 55,000 three-wheeler electric cargo vehicles.
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