About Altigreen
Altigreen is a company based in Bengaluru (India) founded in 2013 by Lasse Moklegaard, John Bangura, Amitabh Saran, and Shalendra Gupta.. 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 as of April 08, 2024. Altigreen offers products and services including neEV TEZ, neEV Bhai, neEV Rahi, High Deck, and Low Deck. Altigreen operates in a competitive market with competitors including TI Clean Mobility, 3evi, ETO Motors, Montra Electric and MLR Auto, among others.
- Headquarter Bengaluru, India
- Employees 368 as on 08 Apr, 2024
- Founders Lasse Moklegaard, John Bangura, Amitabh Saran, Shalendra Gupta
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Altigreen Propulsion Labs Private Limited
- Date of Incorporation 08 Feb, 2013
- Jurisdiction Bangaluru, Karnataka, India
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Annual Revenue
$12.56 M (USD)1068.53as on Mar 31, 2023
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Net Profit
$-9.44 M (USD)-164.25as on Mar 31, 2023
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EBITDA
$-9.46 M (USD)-212.99as on Mar 31, 2023
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Total Equity Funding
$48.89 M (USD)
in 10 rounds
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Latest Funding Round
$117.59 K (USD), Angel Round
Dec 23, 2024
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Investors
Sterling Tools
& 82 more
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Employee Count
368
as on Apr 08, 2024
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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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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.
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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 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 Total Funding
- Total Rounds 10
- Last Round Angel Round — $117,590
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First Round
First Round
(25 Oct 2013)
- Investors Count 83
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2024 | Amount | Angel Round - Altigreen | Valuation | Mukesh Garg |
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| Feb, 2022 | Amount | Series A - Altigreen | Valuation | Sixth Sense Ventures , Nikhil Vora | |
| May, 2021 | Amount | Series A - Altigreen | Valuation | Anita Dongre |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital fund investing in consumer-focused startups in India.
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Founded Year | Domain | Location | |
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Investment services providing capital and expertise to Indian mid-market companies.
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Founded Year | Domain | Location | |
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Private equity firm focused on utility industry, renewable energy technology, industrial energy management, and renewable storage
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Altigreen
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Altigreen
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Altigreen Comparisons
Competitors of Altigreen
Altigreen operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as TI Clean Mobility, 3evi, ETO Motors, Montra Electric and MLR Auto, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric three-wheelers are designed, manufactured, and marketed for passenger transport.
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| domain | founded_year | HQ Location |
Three-wheel electric vehicles are manufactured along with hyper-local connectivity services.
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| domain | founded_year | HQ Location |
Online platform offering electric vehicles and fleet management solutions
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| domain | founded_year | HQ Location |
Electric three-wheelers are manufactured by Montra Electric in India.
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| domain | founded_year | HQ Location |
Manufacturer of electric three-wheelers
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Altigreen
Frequently Asked Questions about Altigreen
When was Altigreen founded?
Altigreen was founded in 2013.
Where is Altigreen located?
Altigreen is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Altigreen?
Amitabh Saran is the current CEO of Altigreen. They have also founded this company.
Is Altigreen a funded company?
Altigreen is a funded company, having raised a total of $48.89M across 10 funding rounds to date.
How many employees does Altigreen have?
As of Apr 08, 2024, the latest employee count at Altigreen is 368.
What is the annual revenue of Altigreen?
Annual revenue of Altigreen is $12.56M as on Mar 31, 2023.
What does Altigreen do?
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.
Who are the top competitors of Altigreen?
Altigreen's top competitors include ETO Motors, TI Clean Mobility and Montra Electric.
What products or services does Altigreen offer?
Altigreen offers neEV TEZ, neEV Bhai, neEV Rahi, High Deck, and Low Deck.
Who are Altigreen's investors?
Altigreen has 83 investors. Key investors include Sterling Tools, Anita Dongre, BKT Tires, Reliance Power, and Xponentia Capital.
What is Altigreen's valuation?
The valuation of Altigreen is $41.12M as of Dec 2024.