Ahmedabad-based EV Charger Manufacturer Tirex Transmission Secures 2 Mn in Funding from HNIs

TIREX TRANSMISSION, an EV charger manufacturing company announced the infusion of $2million from an ultra HNI investor.

Tirex Transmission Private Limited, a leading EV charger manufacturer based out of Ahmedabad secured a growth funding of 2 Million USD. Tirex, a pioneer in the EV Charger Industry for DC fast chargers, is today a supplier of choice not only for the private EV sector but also the government.

This $2 million funding will fuel Tirex Transmisson Private Limited's Growth and R&D efforts for international markets where USA is the first country of focus.

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

Given the exponential growth the EV segment is experiencing in the domestic market, and across the world, Tirex Transmission Private Limited needed funds to scale up operations to make the best of the growth curve. Hence they approached GetFive Corporate Advisors LLP, an Ahmedabad-based boutique Investment Banking and M&A Transaction Advisory firm, for funds raise.

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.

An elated Sankar Patel, Founder and MD, Tirex Transmission Private Limited, said, "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."

Shrikant Goyal Founding Member and Managing Partne - GetFive

"It was exciting to work with Mr Sanskar Patel and his team. Given the explosion that the EV segment is experiencing, the value they are creating in the EV charger market is commendable. Sanskar Bhai's passion and clarity in vision on what he wanted to achieve fuelled our efforts to close the deal in under four months", said Shrikant Goyal, Co-Founding Member and Managing Partner GetFive Corporate Advisors LLP.

About Tirex Transmisson Private Limited

Tirex Chargers- Simple, Qualityand 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 forFour 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.

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 strong business model around their products and services, which maximizes customer’s value and minimizes the cost.

About GetFive Corporate Advisors LLP

GetFive Corporate Advisors LLP, is a boutique Investment Banking and M&A Transaction Advisory firm based out 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 USA, Australia, Canada, Norway& New Zealand.

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