Kinetic Green, a leading Indian electric vehicle (EV) manufacturer, has secured a $25 million investment from global private equity firm Greater Pacific Capital (GPC). This funding is part of an overall Series A target of $40 million.
The company plans to use the funds to scale up production at its Supa facility in Maharashtra, expand its dealership network, and invest in R&D for new products, including the recently launched E-Luna scooter. It also plans to expand globally, particularly with its premium golf carts developed through a joint venture with the Lamborghini family of Italy.
As part of the investment, GPC’s Nandan Desai will join Kinetic Green’s Board of Directors. The company is also in discussions to secure an additional $15 million in funding by 2024.
Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, stated, 'This investment will enhance our capabilities and contribute significantly to India’s energy transition goals.'
Ketan Patel, Founder and CEO of GPC, added, 'Kinetic Green is well-positioned to provide innovative electric vehicles to India’s large and growing population. We are excited to partner with them to scale their business and drive India’s energy transition.'
Vantage Capital Advisors, Rajani Associates, and Trilegal advised on the transaction.
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