29 C
Sunday, December 10, 2023

EV startup Revoh Innovations raises $150M to build new production plant

- Advertisement -

Revoh Innovations has secured USD 150,000 in a seed funding round. The electric vehicle component startup will use the money to build a motor controller production plant in Tamil Nadu.

Chennai-based Revoh Innovations, which manufactures sub-components for electric vehicles (EVs), has secured USD 150,000 in a seed round from angel investors Vel Kanniappan and Ravi Renganathan in order to establish a motor controller manufacturing plant in Tamil Nadu.

Revoh was founded in 2017 with the primary purpose of localizing the manufacturing of electric vehicle sub-components, decreasing India’s reliance on foreign manufacturers.

Revoh Innovations is one of the few indigenous Indian companies conducting cutting-edge research on motor controllers for electric vehicles.

The R&D, production, and operations of Revoh Innovations are situated in IIT-M Research Park. The company plans to establish a separate manufacturing facility in SIPCOT, Chennai, with the support of Seed funds. The R&D section will continue to operate from IIT-M Research Park, according to a statement from the firm.

Revoh Innovations, which is based at IIT-Madras, can now develop 2,000 motor controllers each month for use in EVs, healthcare, solar energy, industrial, agriculture, and home applications. It has about 25 reputable clients, including MNCs and start-ups. At the moment, the business claims to have over 25 reputable clients from MNCs and start-ups. Furthermore, they have alliances with various Indian automobile manufacturers.

Related Articles

Latest Articles