Jupiter Capital has invested $2 million in Altigreen Propulsion Labs Pvt Ltd, a niche start-up providing technology enabled solutions for electric and hybrid powertrains. Jupiter Capital has been looking at disruptive technology ventures focused on the opportunity space of Make in India, Designed in India, and Smart City.
Jupiter Capital’s Director Sudhakar Gande commented that Altigreen has developed hybrid technology solution enabling every vehicle to become a hybrid. The patented technology of the company can be replicated in other developing nations to address growing concerns on greenhouse gas emission. The solution developed by the company is innovative and disruptive at a price point, enabling accelerated adoption.
Altigreen is engaged in research, design and development of proprietary hybrid vehicle technology for the Indian market. Kits developed by Altigreen address two burning concerns of all global citizens today: improve fuel-efficiency (30%) and reduce harmful tailpipe emissions (25%), not just for new vehicles but also for the large population of existing cars and trucks.
Altigreen is co-founded by serial entrepreneur Amitabh Saran, vehicle control engineering guru Dr Lasse Moklegaard, finance and manufacturing veteran Shalendra Gupta, and electromagnetics expert Dr John Bangura with decades of experience in building rotating machines for auto and aviation sectors.
The four started working on a solution back in 2012, developed a proof-of-concept vehicle in the US, filed for IP protection in 40 countries.
