Electric vehicle manufacturer Kinetic Green has raised $25 million (approximately ₹209 crore) in a Series A funding round led by private equity firm Greater Pacific Capital. This marks the company’s first external equity fundraise, as it continues to capitalize on the burgeoning Indian electric vehicle (EV) market.
The Pune-based company has set a target of raising up to $40 million in this Series A round, with the newly secured funds earmarked for scaling production at its Supa manufacturing facility in Maharashtra, expanding marketing and distribution efforts for its existing product line—including the recently launched E-Luna—and supporting ongoing research and development initiatives for new products.
This investment comes at a pivotal moment for Kinetic Green, as India’s EV market is experiencing rapid growth. EV penetration in the country has reached approximately 6%, with electric two-wheelers and three-wheelers leading the charge. These segments are expected to be the primary drivers of growth in the sector, bolstered by favorable government policies aimed at increasing adoption.
Kinetic Green’s flagship product, the E-Luna, was introduced in January this year and has quickly gained traction in the market. The company is poised to leverage the rising demand for electric vehicles, with sales in India expected to accelerate, targeting 30% EV penetration by 2030.
With this fresh infusion of capital, Kinetic Green aims to strengthen its position in the rapidly expanding EV market, driving innovation and scaling operations to meet the growing demand for electric mobility solutions.
