New Delhi-based electric mobility startup Tsuyo Manufacturing has secured USD 4.5 million (INR 40 crore) in a Pre-Series A funding round led by Avaana Capital.

The company plans to use the fresh capital to establish a greenfield manufacturing facility, set up a R&D centre, and strengthen its export operations and collaborations with global automakers across Southeast Asia, Japan, Korea, and Europe.

Founded in 2020 by Lalit Baid, Tripurari Kumar, and Vijay Kumar, Tsuyo is a deep-tech EV company focused on designing and producing electric powertrain systems, including motors, controllers, and integrated solutions.

The firm currently operates two units in Greater Noida and is building a third manufacturing plant to support its expansion goals.

“Our mission has always been to design and manufacture powertrain systems from India that compete at a global level,” said Vijay Kumar, Founder and CEO of Tsuyo. “With our third plant coming online and a strong technology roadmap ahead, we’re positioning Tsuyo as a global player in powertrain innovation, built from India. Our focus remains on scale, sustainability, and engineering excellence.”

Tsuyo serves as a tier-I supplier to major original equipment manufacturers (OEMs) such as Mahindra, Volvo Eicher, and Sonalika, offering powertrain solutions for two, three, and four-wheelers as well as off-road vehicles.

The company claims to have developed 29 patentable innovations, including rare-earth-free and hybrid magnet-based motors, and has filed four patents with 25 more in progress.

With over 150,000 powertrain units delivered and partnerships with 25 OEMs, Tsuyo aims to achieve seven to eightfold growth within the next three years.

Its expanding export footprint and ongoing research collaborations with IIT Delhi and VNIT Nagpur underscore its ambition to become a global leader in sustainable powertrain technology.