Kinetic Green secures $25m in Series A funding to accelerate EV growth

The Pune-based firm, Kinetic Green intends to use the funds to increase production at its Supa (Maharashtra) manufacturing facility, market and circulate its current products, including the recently launched E-Luna, and research and develop new products.

Significant Investment from Greater Pacific Capital

Kinetic Green, a leading electric vehicle (EV) manufacturer based in Pune, announced on Monday that it has successfully raised $25 million (approximately ₹209 crore) from private equity firm Greater Pacific Capital.

This investment marks the company’s first external equity fundraise, which is part of a targeted Series A round aiming to raise up to $40 million.

Strategic Use of Funds

The newly secured capital will be instrumental in scaling up production at Kinetic Green’s manufacturing facility in Supa, Maharashtra.

The funds will also support the marketing and distribution efforts for its existing product lineup, including the recently launched E-Luna.

Additionally, a portion of the investment will be allocated to research and development (R&D) for new products, ensuring that Kinetic Green continues to innovate in the rapidly evolving EV market.

Timing and Market Conditions

This funding comes at a pivotal moment for the Indian EV market, which is experiencing significant growth. EV penetration in India has reached approximately 6%, with electric two-wheelers and three-wheelers driving this expansion.

The Indian EV market is expected to grow rapidly, with a target of 30% EV penetration by 2030, fueled by favorable government policies aimed at promoting the adoption of electric vehicles.

The Road Ahead for Kinetic Green

Kinetic Green’s flagship product, the E-Luna, which was launched in January this year, represents a key component of the company’s strategy to capitalize on the growing demand for electric two-wheelers.

With the fresh capital injection, Kinetic Green is well-positioned to scale its operations, expand its product portfolio, and reinforce its leadership in the Indian EV market.

The company’s focus on scaling production, enhancing marketing efforts, and investing in R&D aligns with the broader industry trends, positioning Kinetic Green to play a significant role in the future of electric mobility in India.