3ev Industries Funding Milestone 2025: Key Details
- Total Raised: ₹120 crore in Series A round.
- Lead Investor: Mahanagar Gas Limited (MGL) with ₹96 crore—their first move into electric mobility.
- Other backers: Thackersey Group (₹10.46 crore), Equentis Angel Fund (₹8.15 crore), and ₹4.82 crore from HNIs, UHNIs, and family offices.
- Use of Funds: Expand manufacturing, launch 3C division (charging, care, conversions), and strengthen supply chain.
- Tech Focus: Research in regenerative braking, advanced materials, and solar cold-chain EVs.
- Revenue Target: ₹65 crore in FY26 with positive EBITDA margin.
- Market Outlook: The L5 3W segment is to grow 19.5% yearly to $18.7 billion by 2035, with 60%+ electric penetration.
- Quote from MD Peter Voelkner: “This funding makes EV adoption seamless for customers and supports our ecosystem for last-mile connectivity.”
3ev Industries Hits Funding Milestone: Bengaluru EV Maker Raises ₹120 Crore to Boost Factories, Charging, and After-Sales Services
A Bengaluru company called 3ev Industries makes electric three-wheelers for last-mile delivery. On November 26, 2025, they announced they raised ₹120 crore in a Series A funding round. This money will help them grow their manufacturing, build more charging stations, and improve after-sales services. The news came from reports in The Hindu and Economic Times.
The main investor is Mahanagar Gas Limited (MGL). They put in ₹96 crore. This is MGL’s first time investing in electric vehicles. Other investors include the Thackersey Group with ₹10.46 crore, Equentis Angel Fund with ₹8.15 crore, and ₹4.82 crore from rich individuals and family offices.
Peter Voelkner is the Managing Director of 3ev. He said, “This investment started in FY25 and is a big milestone for us. With this money, we have improved our build quality, aftermarket services, and financing options. This makes buying EVs easy for customers. Our goal is to change last-mile travel with green mobility through a full ecosystem. This partnership gives us the tools and support we need.”
How the Money Will Be Used
The funds will go to several key areas:
- Expand Manufacturing: Build more factories to make electric three-wheelers faster.
- Launch 3C Division: This new part of the company will handle charging stations, vehicle care, and conversions to electric.
- Supply Chain Improvements: Work better with suppliers for parts like batteries and motors.
- New Research: Develop regenerative braking (that saves energy when you brake), advanced materials for lighter cars, and solar-powered cold-chain vehicles for fresh goods delivery.
These steps will help 3ev meet growing demand in cities where traffic is bad and pollution is high.
Bright Future for Electric Three-Wheelers
3ev makes L5 three-wheelers for cargo and passengers. Experts say this market will grow 19.5 percent each year. By 2035, it could reach $18.7 billion. Electric versions will make up more than 60 percent of all three-wheelers sold. The low cost to own and run these EVs, plus government support, will drive this growth.
3ev expects to earn ₹65 crore in FY26. They also plan for a positive EBITDA margin, which means good profits after costs.
Company Background
3ev Industries is based in Bengaluru. They focus on electric vehicles for last-mile needs. Their cars have strong designs and happy customers. They use a Battery-as-a-Service model, where you pay for battery use, not buy it upfront.
Manas Das from MGL said, “At Mahanagar Gas, we support India’s clean energy change. Electric mobility is a big part. We think 3ev’s good design, customer stories, and smart battery model will help EVs grow in cities.”
This funding is a big step for 3ev. It shows trust from big investors. With more factories and services, 3ev can reach more customers and help make cities greener.
Source: freepressjournal.in
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