EV firm Kinetic Green said it had secured an investment of $25 million from Greater Pacific Capital (GPC), a global PE firm, and was in talks with other potential investors to secure another $15 million during 2024.

The company said it intended to utilise the funds for scaling up its production at Supa, marketing and distribution of its current products including the recently-launched E-Luna, and towards R&D of new products.

This is the first external equity fundraise by Kinetic Green, which is a mix of equity shares, convertible preference shares and debentures. As part of the investment, GPC’s Managing Director Nandan Desai would join Kinetic Green’s Board.

Till date, the company has sold over one lakh EVs, generating a cumulative sales over ₹1,000 crore. It is in the process of expanding dealership network reach and is aiming to sell over one lakh EVs over the coming year.

Kinetic Green will also focus on global expansion, in particular through the launch of its premium golf cart range, which is designed, developed and manufactured through an exclusive joint venture with the Lamborghini family of Italy.