Hinduja Tech secures $50-million funding from PE Fund Creador

Hinduja Tech Restricted (HT), a mobility-focused international engineering R&D companies firm and a subsidiary of Ashok Leyland, has secured a $50 million funding from Creador, a PE agency targeted on long-term investments in growth-oriented companies in India and Southeast Asia.

HT on Thursday introduced that it signed a definitive settlement for Creador to speculate the quantity by buying 19.6 per cent shareholding within the firm. This funding locations HT at a post-money fairness worth of $255 million, says a launch.

The infusion of capital will enable HT to enhance its present capabilities in analysis and growth by natural and inorganic means, improve its international footprint and develop its state-of-the-art labs to realize momentum in its journey in direction of rising as a world chief in sustainable engineering mobility companies.

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HT has been making important strides within the mobility business, by increasing its capabilities and partnerships to drive innovation and development. It has additionally collaborated with quite a few gamers within the mobility area, to assist their growth and manufacturing efforts throughout varied segments, from conventional buses and sports activities automobiles to electrical and autonomous automobiles, says a launch.

Kumar Prabhas, CEO of Hinduja Tech Restricted, stated, “We’ve an bold development plan within the sustainable engineering mobility phase. We’re more than happy to associate with Creador, their funding will enable Hinduja Tech to speed up its World development plans.

“HT has established itself as a key participant within the mobility ER&D business with marquee prospects throughout the globe” stated Anish Kedia, Director at Creador. “With its deep capabilities throughout engineering, powertrain and electronics, we imagine HT is properly poised in direction of creating sustainable and worthwhile options for the way forward for mobility.”

In FY 2023, Hinduja Tech had acquired Drive System Design, a UK and US-based firm, specialising in e-powertrain design. This acquisition coupled with different key milestones achieved demonstrates Hinduja Tech’s dedication to staying on the forefront of the quickly evolving mobility panorama and its dedication to offering progressive options for its purchasers, the discharge stated.