About Altigreen
Altigreen is a Transportation, Automotive & Logistics company based in Bengaluru (India) founded in 2013 by Lasse Moklegaard, John Bangura, Amitabh Saran, and Shalendra Gupta. It operates as an electric mobility solutions are offered via indigenous three-wheelers. Altigreen has raised $48.89 million across 10 funding rounds from investors including Sterling Tools, Anita Dongre and BKT Tires. The company has 368 employees. Altigreen was last valued at $41.12 million in December 2024. Its chief executive is Amitabh Saran. Its Indian entity Altigreen Propulsion Labs Private Limited reported revenue of ₹23.19 Cr. Altigreen offers products and services including neEV TEZ, neEV Bhai, neEV Rahi, High Deck, and Low Deck. Its focus areas include Energy Tech, Electric Vehicles, Automaker and Commercial Vehicles. Its competitors include TI Clean Mobility, 3evi, ETO Motors, Montra Electric and MLR Auto and 2 more; 6 of its 7 listed competitors have raised funding.
Company details
Altigreen was founded in 2013 and is headquartered in Bengaluru, India. Electric mobility solutions are provided through a platform that features indigenous electric three-wheelers. These vehicles have been designed for cargo and passenger applications, with optimizations suited to Indian operating conditions. The focus remains on sustainable transportation in the electric vehicle sector.
- Headquarters Bengaluru, India
- Employees 368
- Founders Lasse Moklegaard, John Bangura, Amitabh Saran, Shalendra Gupta
- Stage Minicorn
- SectorsTransportation, Automotive & Logistics
- Email••••••••
- Phone•••• ••••
- Website altigreen.com
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Altigreen Propulsion Labs Private Limited
- Date of Incorporation 08 Feb, 2013
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹23.19 Cr
FY 2025 · -81% YoY
- Net Loss-₹104 Cr
FY 2025 · -448% margin
- EBITDA-₹89.15 Cr
FY 2025 · -385% margin
- Total Equity Funding$48.89M (USD)
in 10 rounds
- Latest Funding Round$117.59K (USD), Angel Round
Dec 2024
- InvestorsSterling Tools
& 82 more
- Employee Count368
Associated legal entities of Altigreen
Altigreen operates through Altigreen Propulsion Labs Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Altigreen Propulsion Labs Private Limited CIN U74900KA2013PTC067796 | Active | 08 Feb 2013 | Malur, Karnataka | ₹23.2 Cr | 368 | 2 | View details |
Products & Services of Altigreen
Altigreen offers a comprehensive portfolio of products and services, including neEV TEZ, neEV Bhai, neEV Rahi, High Deck, and Low Deck.
Fast-charging three-wheeler for efficient cargo delivery.
Flexible flatbed variant for customizable cargo transport.
Five-seater for shared mobility and passenger services.
Spacious container for secure and high-capacity transport.
Sturdy option for inter-city goods and perishable delivery.
Apps and channels of Altigreen
its YouTube channel Altigreen Propulsion Labs has 1.53K subscribers and 30 videos.
Videos from Altigreen
The most watched videos on Altigreen's YouTube channel, Altigreen Propulsion Labs (1.53K subscribers). Click a video to play it here.
More on Altigreen Propulsion Labs.
Funding Insights of Altigreen
Altigreen has successfully raised a total of $48.89M across 10 strategic funding rounds. The most recent funding activity was a Angel Round of $117.59 thousand completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $48.89M
- Total Rounds 10
- Last Round Angel Round — $117,590
- First Round $636,589
(Oct 2013)
- Investors Count 83
All 10 funding rounds of Altigreen with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2024 | $117,590 | Angel Round | $41.12M | Mukesh Garg | – |
| Feb 2022 | $40.1M | Series A | $139.48M | Sixth Sense Ventures, Nikhil Vora | |
| May 2021 | – | Series A | – | Anita Dongre | – |
| Jan 2021 | $1.5M | Series A | $••••• | Surendra Saboo | |
| Apr 2020 | $1.12M | Series A | $••••• | Surendra Saboo | |
| Jan 2019 | $1.65M | Series A | $••••• | Sterling Tools | |
| May 2017 | $630,386 | Series A | – | Phi Capital | |
| Dec 2015 | $2M | Series A | – | Jupiter Capital | |
| Jul 2014 | $1.14M | Seed | $••••• | Vikrant Rana | |
| Oct 2013 | $636,589 | Seed | $••••• | Prabhat Agarwal |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2024 | $41.12M | •••••••• |
| Feb 2022 | $139.48M | •••••••• |
| Jan 2021 | $••••• | •••••••• |
| Apr 2020 | $••••• | •••••••• |
| Jan 2019 | $••••• | •••••••• |
| Jul 2014 | $••••• | •••••••• |
| Oct 2013 | $••••• | •••••••• |
Full valuation and stage history of Altigreen
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $41.12M (Dec 2024). 83 investors in total: 26 institutional and 57 angel.
Investors in Altigreen
Altigreen has secured backing from 83 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Sterling Tools, Anita Dongre and BKT Tires.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in consumer-focused startups in India. | 2016 | sixthsenseventures.com | Mumbai, India | |
Investment services providing capital and expertise to Indian mid-market companies. | 2018 | xponentia.in | Mumbai, India | |
Private equity firm focused on utility industry, renewable energy technology, industrial energy management, and renewable storage | – | accurantllc.com | Bainbridge Island, United States | |
Venture capital investments are directed toward multiple sectors. | – | momentumpartners.no | Bergen, Norway | |
Corporate backed venture capital fund focused on multiple sectors | – | reliancenewenergy.tcc.mode | - | |
Urban infrastructure startups are accelerated and funded via venture capital. | – | momentumvc.sg | Singapore, Singapore | |
Global investments in tech sectors are conducted by Valar Ventures. | – | valar.com | New York, United States | |
Single family office of K Dinesh, co-founder of Infosys | – | mirabilisinvestment.tcc.mode | Bengaluru, India | |
Investment in public and private markets in India, including equity, debt, and real estate. | 2021 | mgaventures.in | Mumbai, India | |
Private equity fund focused on multiple sectors | – | phicapital.in | Chennai, India |
Investor details for Altigreen
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of Altigreen Propulsion Labs Private Limited (Altigreen)
Altigreen Propulsion Labs Private Limited is the primary company behind Altigreen. The board of Altigreen Propulsion Labs Private Limited currently have 2 directors; the longest-serving is Amitabh Saran, appointed in 2013. 12 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Amitabh Saran DIN 00415231 | Director | 08 Feb 2013 | 13 yrs 8 mo | Altigreen Propulsion Labs Private Limited |
| Shalendra Kumar Gupta DIN 06458270 | Director | 08 Feb 2013 | 13 yrs 8 mo | Altigreen Propulsion Labs Private Limited |
People of Altigreen
15 people are tracked at Altigreen (12 in leadership, 3 in team); the tracked headcount is 368.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CFO | Leadership | |
John Bangura | Co-Founder | Leadership |
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership | |
Gnana vel | Head-parts Warehouse | Leadership |
Guddu Gupta | Head - Sales Planning & Strategy | Leadership |
Dr. John F. Bangura | Co-founder & CTO | Leadership |
Ajoy Lall | Senior Vice President, Manufacturing | Leadership |
Rahul Karaangale | General Manager Production | Leadership |
Prashant Chavan | Assistant General Manager -ev ( Biw-chassis Design & CAE ) | Leadership |
Savyasachi M J | Head IT Infrastructure | Leadership |
John F Bangura | VP Engineering | Leadership |
Manasa Basavaraju | Assistant Manager | Team |
Indranil Bhattacharyya | GM CAE , Vehicle Dynamics | Team |
Viksit Trivedi | DGM Business Development | Team |
Complete people profiles for Altigreen
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of Altigreen
Figures of Altigreen Propulsion Labs Private Limited, the primary company behind Altigreen, for FY 2025. Revenue was ₹23.19 Cr (-81% year on year). Net loss was -₹104 Cr (-448% margin). EBITDA was -₹89.15 Cr (-385% margin). Revenue has grown at a compounded annual rate of -70% over three years and -50% over five years.
- ₹23.19 CrRevenue · FY 2025 · -81% YoY
- -₹104 CrNet loss · -448% margin
- -₹89.15 CrEBITDA · -385% margin
- ₹2.10 CrPaid-up capital
- 368Employees (provident fund records)
- -70%Revenue CAGR, 3 years
- -50%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Altigreen Propulsion Labs Private Limited are on its company page.
Detailed financial statements for Altigreen
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Altigreen
4 dated milestones of Altigreen across 11 years, from founding to its latest funding, stage changes and deals.
- Founded Altigreen is founded.
- Funding First funding round of $637K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $118K.
Competitors of Altigreen
Altigreen has 7 listed competitors in our database, 6 of them funded. They include TI Clean Mobility, 3evi, ETO Motors, Montra Electric and MLR Auto, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ticleanmobility.tcc.mode | 2022 | Chennai, India | $519.2M | 530 | Electric three-wheelers are designed, manufactured, and marketed for passenger transport. | |
| 3evi.com | 2019 | Bengaluru, India | $24.64M | 250 | Three-wheel electric vehicles are manufactured along with hyper-local connectivity services. | |
| etomotors.com | 2018 | Hyderabad, India | $15.2M | 109 | Online platform offering electric vehicles and fleet management solutions | |
| montraelectric.com | 2020 | Chennai, India | – | 522 | Electric three-wheelers are manufactured by Montra Electric in India. | |
| tejaauto.co.in | 2009 | Hyderabad, India | $10.15M | 97 | Manufacturer of electric three-wheelers | |
| etrio.in | 2017 | Hyderabad, India | $3M | 43 | Online platform offering electric vehicles and related mobility solutions | |
| gayammotorworks.com | 2010 | Hyderabad, India | $50M | 20 | Platform offering electric mobility solutions |
Detailed competitors of Altigreen
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Altigreen
The website of Altigreen (altigreen.com) receives about 8.8K visits a month.
- Monthly visits8.8K
▲ 71.8% vs previous month
Websites whose visitors overlap most with Altigreen. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| mahindralastmilemobility.com | 100% | 36.8K | #584,005 | View details | |
| ekamobility.com | 84% | 13.9K | #1,760,506 | View details | |
| evreporter.com | 83% | 83.3K | #355,089 | View details | |
| motorfloor.com | 83% | 30.6K | #704,669 | View details | |
| piaggio-cv.co.in | 69% | 21.8K | #1,130,564 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 11 similar websites and full traffic analytics for Altigreen
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- 11 similar websites
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Top companies in Electric & Green Mobility
10 companies that operate in the same segment as Altigreen (Electric & Green Mobility), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric kick-scooters are rented through an app-based platform. | 2017 | Miami, Florida, United States | USD 765 M | USD 244.66 M | 953 | |
Electric kick-scooters are rented through an app-based platform. | 2017 | San Francisco, California, United States | USD 1.4 B | – | 2,813 | |
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | – | – | |
Shared electric two-wheelers are rented via an online platform. | 2017 | Bengaluru, Karnataka, India | USD 187.54 M | USD 2.14 M | 251 | |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | 2013 | Bengaluru, Karnataka, India | USD 502.02 M | USD 391.37 M | 1,917 | |
App-based platform offering electric kick scooter rental services | 2018 | Amsterdam, Netherlands | USD 211.85 M | – | – | |
Utility bill management platform is provided for tracking and billing. | 2015 | London, England, United Kingdom | USD 2.81 B | USD 17.62 K | 5,752 | |
Electric vehicles are manufactured and developed by Polestar. | 1996 | Goteborg, Vastra Gotaland, Sweden | USD 550 M | USD 3.06 B | 2,550 | |
Electric buses and charging systems are manufactured for fleets. | 2004 | Burlingame, California, United States | USD 857.79 M | USD 309.36 M | 418 | |
Multi-category electric vehicles are manufactured for diverse applications. | 1999 | Bedford, United States | USD 101.78 M | – | – |
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Related news about Altigreen
Complete news archive for Altigreen
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Frequently Asked Questions about Altigreen
Altigreen was founded in 2013.
Altigreen is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Amitabh Saran is the current CEO of Altigreen. They have also founded this company.
Altigreen is a funded company, having raised a total of $48.89M across 10 funding rounds to date. The company's 1st funding round was a Seed of $636.59K, raised on Oct 2013.
Altigreen has 368 employees.
The primary company behind Altigreen, Altigreen Propulsion Labs Private Limited, reported revenue of ₹23.19 Cr for FY 2025, down 81% year on year.
Altigreen was founded in 2013 and is headquartered in Bengaluru, India. Electric mobility solutions are provided through a platform that features indigenous electric three-wheelers. These vehicles have been designed for cargo and passenger applications, with optimizations suited to Indian operating conditions. The focus remains on sustainable transportation in the electric vehicle sector.
Altigreen's top competitors include ETO Motors, TI Clean Mobility and Montra Electric.
Altigreen offers neEV TEZ, neEV Bhai, neEV Rahi, High Deck, and Low Deck.
Altigreen has 83 investors. Key investors include Sterling Tools, Anita Dongre, BKT Tires, Reliance Power, and Xponentia Capital.
The valuation of Altigreen is $41.12M as of Dec 2024.
Altigreen operates through Altigreen Propulsion Labs Private Limited.