Angel Investments
EV startup Ashnni Motors attracts $244-K from WealthTrust Capital Services
Ashnni Motors, a Pune-based electric vehicle startup, has raised USD 244,000 (INR 2 crore) in a pre-seed round from WealthTrust Capital Services. Pushpak Ranka, Dawson Menezes, Sneha Jain, and Alisha Poonawalla Menezes are some of the lead investors from WealthTrust who participated in this round. The firm plans to use the funds to produce the first batch of first-generation vehicles and in-house production of Li-ion battery packs. Founded in 2017 by Vishal Mali and Subodh Karunasagar, and incubated under the Science and Technology Park, Pune, Ashnni Motors aims to design, engineer and manufacture purpose-built EV fleets. In 2021, the startup received a product development grant from the Department of Science and Technology, Government of India (DST) and it was also a part of the Climate Collective accelerator programme. The company started operations from its facility in Chakan, Pune in January 2023.
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