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HomeInsightFunding Alert Tirex Transmission Private Limited raises Growth funding of $1 million

[Funding alert] Tirex Transmission Private Limited raises Growth funding of $1 million

Tirex Transmission, the leading EV charger manufacturing company, announced the infusion of another $1 million from an ultra-HNI investor to help fund its growth.

Tirex Transmission, the leading EV charger manufacturing company, announced the infusion of another $1 million from an ultra-HNI investor to help fund its growth.

Tirex Transmission Private Limited was able to get the additional funding, in less than four months, to support their aggressive expansion ambitions in response to the market demand, with the help of their skilled financial investment business GETFIVE. The investment will bolster R&D and expand operations.

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Started in 2017 in Ahmedabad, led by Sanskar Patel, Tirex is all charged to retain its leadership position in the EV Charger domain. One of the pioneers in the EV Charger Industry for DC fast chargers. With its skilled team of Engineers, cloud-based CMS (charger management system), and a fully equipped R&D facility, Tirex Transmission Private Limited is a supplier of choice for DC chargers for Govt, Private & MNC companies. The company offers global standard EV Chargers (AC and DC chargers) and EV Charging management solutions to meet India’s focus on controlling carbon emissions and air pollutants. 

An elated Sanskar Patel, Founder and MD of Tirex Transmission Private Limited, said, “GetFive once again lived up to the promise of reliable advisors. Not only are they excellent in finding us the right investors, but their invaluable guidance on various financial aspects of the business has made them more of an extended team rather than advisors.”

Tirex Transmission Private Limited had previously raised $ 2 million in a seed funding round to fuel its growth capital.

GetFive Corporate Advisors LLP, an Ahmedabad-based boutique Investment Banking and M&A Transaction Advisory firm with fundraising expertise, was able to find the right investor and bring the deal to closure in record time, delivering on their crucial value of customer delight.

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This additional funding of $ 1 million will enable the company to embark on its growth trajectory, which, at worst, will be 6-7 times the topline growth of the previous financial year.

“We have been working Mr Sanskar Patel and his team. It is exciting to be working with a highly charged-up team focused on bringing value to the EV industry. The quick turnaround would not have been possible without Sanskar Bhai and the team’s support and quick decision-making.”, said Shrikant Goyal, Co-Founding Member and Managing Partner, GetFive Corporate Advisors LLP.

About Tirex Transmission Private Limited

Tirex Chargers- Simple, Quality, and non-stop EV charging for everyone. Tirex Transmission Private Limited is an EV charger manufacturing company based out of Ahmedabad, Gujarat, India. Tirex offers a complete range of Fast & slow Electric Vehicle Chargers for four Wheelers, Commercial & Passengers Buses, Trucks, and more with a wide voltage range from 3.3kw to 360kw and all different connectors. Tirex Chargers are sleek, fast, and reliable.

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Tirex products are as per Bharat (Government of India) & International Standard Protocols. All of companies products are verified and certified by ARAI (Automotive Research Authority Of India) and CE. Backed by a highly educated team of researchers & managers, they have created a robust business model around their products and services, which maximizes customer value and minimizes costs.

About GetFive Corporate Advisors LLP

GetFive Corporate Advisors LLP is a boutique Investment Banking and M&A Transaction Advisory firm based in Ahmedabad. GetFive prides itself on being an agile and dynamic financial firm that believes in customer delight. GetFive, with the mission to unlock the business potential of its clients, offers financial consultancy in Fundraising, Merger & Acquisition, Transactional Advisory, IPO Readiness assessment, and Start-up advisory services. Headquartered in Ahmedabad, Gujarat has offices in the USA, Australia, Canada, Norway & New Zealand.

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