PE-VC Fund Investments
EV powertrain solutions provider Tsuyo Manufacturing raises Rs.40-Cr
New Delhi-based Tsuyo Manufacturing , an electric vehicle powertrain solutions provider, has raised INR 40 crore (around USD 4.5 million) in its pre-Series A funding round led by Avaana Capital.Founded in 2020, Tsuyo Manufacturing makes electric motors, controllers, and integrated powertrain systems.The company plans to deploy the newly raised capital to set up a greenfield manufacturing facility. Additionally, the funds will be used to ramp up its research and development efforts and scale innovations for heavy commercial vehicle electrification and retrofit solutions.
In Dec-22, Ramkrishna Forgings acquired a 51% stake in Tsuyo.
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