3ev Industries Raises ₹120 Crore in Series A Round Led by Mahanagar Gas.

Bengaluru-based electric vehicle (EV) manufacturer 3ev Industries has raised ₹120 crore in a Series A funding round led by Mahanagar Gas Limited, which contributed ₹96 crore. The round also saw participation from Equentis Angel Fund and the Thackersey Group.

The company said the fresh capital will be used to scale up manufacturing, expand charging infrastructure, and strengthen aftermarket services. 3ev also plans to accelerate sales growth, having already doubled its volumes year-on-year.

An additional ₹4.82 crore came from a group of HNIs, UHNIs, and family offices.

“We are strengthening supply-chain integration, growing our aftermarket and service footprint, and accelerating the development of new technologies, including regenerative braking systems and solar-assisted cold-chain EVs,” said Peter Voelkner, Managing Director of 3ev Industries.