Tirex Transmission, an EV charger manufacturing company, announced the infusion of $2 million from an HNI investor. This $2 million funding will focus on Tirex Transmission Private Limited’s Growth and R&D efforts for international markets where the USA is the first country of focus.
Founded by Sanskar Patel, Tirex Transmission Private Limited started its journey in the EV Charger domain in 2017 in Ahmedabad, Gujarat. Tirex Transmission Private Limited today is a supplier of choice for DC chargers for Govt, Private & MNCs. 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. Hence they approached GetFive Corporate Advisors LLP, an Ahmedabad-based boutique Investment Banking and M&A Transaction Advisory firm, for funds.
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.”.
“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.