Hinduja Tech Raises USD 50 Mn from Private Equity Fund Creador The Chennai-based company will use the raised funds to augment its existing capabilities in research and development through organic and inorganic means, enhance its global footprint and expand its state of the art labs.
By Entrepreneur Staff •
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As a subsidiary of Ashok Leyland and a part of the Hinduja Group, Hinduja Tech Limited (HT) has announced the raising of a USD 50 million investment from Creador, a PE firm focused on long-term investments in growth-oriented businesses in India and Southeast Asia, acquiring 19.6 percent shareholding in the company.
This investment places Hinduja Tech at a post-money equity value of USD 255 million.
As per the official release, the infusion of capital will allow Hinduja Tech to augment its existing capabilities in research and development through organic and inorganic means, enhance its global footprint and expand its state of the art labs to gain momentum in its journey towards emerging as a global leader in sustainable engineering mobility services.
Kumar Prabhas, CEO of Hinduja Tech Limited, said, "This investment is a testament to HT's innovative spirit and proven track record in automotive and adjacent industries. The capital will empower us to pursue exciting new opportunities that will help further our position towards achieving our vision of being a global leader in the sustainable mobility engineering landscape."
Founded in 2009 by Kumar Prabhas, Hinduja Tech is a global commercial vehicle manufacturer and integrated product engineering and digital technologies solutions provider for the mobility industry.
It claims to work with automotive organisations (OEMs and Tier-X Suppliers) and disruptive mobility players in North America, Europe, APAC and India.
HT has its presence in over 38 countries and employs about 200,000 people with multiple industry verticals like mobility, lubricants and specialty chemicals, banking and finance, digital technology, energy, media and entertainment, realty, healthcare, project development and trading.
In 2023, Hinduja Tech had acquired Drive System Design, a UK and US-based company, specialising in e-powertrain design.
Anish Kedia, Director of Creador, said, "HT has established itself as a key player in the mobility ER&D industry with marquee customers across the globe. With its deep capabilities across engineering, powertrain and electronics, we believe HT is well poised towards creating sustainable and profitable solutions for the future of mobility."
