Attron Automotive, an electric mobility motor and controller solutions company, has raised ₹47.5 million (~$573,956) in a seed funding round led by Anicut Capital and co-led by Venture Catalysts. The company will use the funding to promote electric mobility with technology and innovation.

The company is setting up a new facility that will produce 8,000 units every month, allowing Attron to meet its growing demand for motor and controller solutions, particularly in the electric two-wheeler and three-wheeler segments, spanning both passenger and load carrier categories.

Attron’s product portfolio includes precision-engineered motors and controllers that optimize performance across electric mobility, industrial automation, and aerospace applications.

“The success of our recent fundraising efforts will play a pivotal role in propelling Attron Automotive forward. 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,” mentioned Mosam Ugemuge, CEO of Attron Automotive.

“Attron’s pioneering motor and controller solutions epitomize 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,” said Apoorva Ranjan Sharma, Director & Managing Director of Venture Catalysts.

The company said the global electric vehicle (EV) motor controller market was valued at $7,731 million in 2021 and is likely to soar to $26.8 billion by 2031. As a result, the EV motor market is expected to grow from $8.5 billion in 2022 to $56.95 billion by 2032. Given this, the company expects to position itself in driving the shift towards electric mobility by offering superior performance and environmentally secure rides.

Last January, Chara, another manufacturer of motors for EVs, raised $4.75 million in a pre-series A funding round.

Earlier this year, EV sales soared to 1.5 million units, clocking a 50% year-over-year growth since last 2022.