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Monday , 23 April 2018
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Altigreen – Company Profile

Altigreen Propulsion Labs is a leading Indian startup focused on reducing vehicular fuel consumption and environmental pollution. Founded in 2012 and headquartered in Bengaluru, Altigreen develops specialized automotive equipment known as powertrains. The powertrains can be installed inside the present day fossil-fuel based three-wheelers, cars, commercial vehicles and farm equipment.

The company has also developed a system called HyPixi and what this essentially does is that it transforms a fossil-fuel based vehicle into a partially electrified hybrid vehicle. The system offers various benefits such as reduced fuel consumption and emissions. HyPixi also reduces the maintenance cost of running a vehicle, which is an additional benefit for end users.

History:

The founders of Altigreen Propulsion Labs got the idea for their startup when they realized that air pollution was causing millions of deaths in India and globally as well. Surely, the government aims to phase out all fossil fuel based vehicles by 2030, but what about the pollution and the deaths that will occur by that time? The founders started thinking about this question and got the answer in developing a system that can reduce fuel consumption and emissions in exiting fossil-fuel based vehicles.

After several rounds of brainstorming and trials, the team was finally able to develop a low-cost system that can transform any vehicle into a partially or fully-electric vehicle. The idea has found many takers in India and abroad, since it allows fuel savings of up to 20 percent.

In 2017, Altigreen Propulsion Labs received global recognition for its innovative system at the Rocket Space Mobility Tech Accelerator Program, which is founded by BP. It was the only company in all of Asia Pacific to get that recognition.

Funding:

Altigreen Propulsion Labs has received investments from various sources. In 2016, the company received funding worth $2 million from Jupiter Capital.

Acquisitions:

Altigreen has not made any acquisitions till date, but is open to opportunities that may emerge in the future.

Competition:

Altigreen has been a pioneer in developing specialized powertrains and currently does not face any major competition from other players in India.

About the Founders:

Altigreen Propulsion Labs was founded by Amitabh Saran, Lasse Moklegaard, Shalendra Gupta and John Bangura. Amitabh Saran currently serves as the CEO at Altigreen. He has more than 25 years of experience in engineering and business. Prior to Altigreen, he had worked with top companies such as TCS, Philips, NASA, Hewlett-Packard; and cofounded startups TriVium and Buzzintown.

Lasse Moklegaard is the CTO, Shalendra Gupta serves as the CFO and John Bangura is the VP Engineering at Altigreen.

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