Tirex Transmission Secures $2 Million

The funds will be used to fuel growth and support research and development

By
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Tirex Transmission, an EV charger manufacturing company, has raised $2million. The funding will fuel Tirex Transmisson Private Limited's growth and R&D efforts for international markets.

Pexels

The quick turnaround ensures that the company can now embark on its growth trajectory, estimated to be a minimum 6-7 times the topline growth of the previous financial year.

"It was in 2017, on seeing the direction EV was taking, that we embarked on our journey. Now that we have established ourselves well in the industry, it is time to take the leap. That is why we approached GetFive to help us raise funds. Working with them has been a joyride. Not only we could secure the funds within the stipulated timelines, but working as an extended team, they also guided us on various financial aspects of our business," said Sankar Patel, founder and MD, Tirex Transmission Private Limited.

"It was exciting to work with the team. Given the explosion that the EV segment is experiencing, the value they are creating in the EV charger market is commendable," said Shrikant Goyal, co-founding member and managing partner GetFive corporate advisors LLP.

Founded by Sanskar Patel, Tirex Transmisson Private Limited started its journey in the EV Charger domain in 2017 in Ahmedabad, Gujarat.