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Tsuyo Manufacturing Pvt. Ltd., an electric powertrain design and manufacturing company, has raised 40 crore in a Pre-Series A funding round led by Avaana Capital, a venture capital firm specializing in deep-tech innovation.
The funds will be utilized to establish Tsuyo second research and development (R&D) centre and commission a new greenfield manufacturing facility. The company currently supplies integrated powertrain solutions to leading OEMs such as Mahindra, Volvo Eicher, and Sonalika, catering to applications across three-wheelers, four-wheelers, light commercial vehicles, heavy commercial vehicles, and off-road segments.
Tsuyo holds 29 patentable innovations, including rare-earth-free motors and hybrid magnet-based motors. It is currently India’s only supplier with a validated powertrain platform for heavy commercial vehicles such as buses and trucks, and also offers retrofit solutions for internal combustion engine (ICE) fleets.
“Tsuyo is building the backbone of India’s energy transition,” said Vikas Verma, Venture Partner at Avaana Capital. “Their vertically integrated powertrain technology is essential for the electrification of mobility and industrial applications, showcasing India’s capability in scalable indigenous innovation.”
The upcoming manufacturing unit will be Tsuyo’s third facility, dedicated to producing high-wattage electric motors (up to 250 kW) and transmission assemblies. It will feature a vehicle testing track and end-of-line validation systems compliant with PM e-Drive and FAME standards.
The new R&D centre will focus on power electronics, embedded systems, and prototype development, strengthening the company’s technology pipeline.
“Our mission has always been to design and manufacture globally competitive powertrain systems from India,” said Vijay Kumar, Founder and CEO of Tsuyo Manufacturing. “With Avaana’s support, we’re scaling high-wattage motor production and accelerating deep-tech research.”
Founded in 2020, Tsuyo offers complete in-house design, development, and manufacturing capabilities. Its product portfolio includes SPMSM, IPMSM, ACIM, SRM, and SynRM motor technologies, along with components like VCUs, TCUs, DC-DC converters, gearboxes, and IoT systems.
To date, the company has delivered over 1.5 lakh powertrain units and works with more than 25 OEMs, including Hero, Mahindra, Volvo-Eicher, Sonalika, Greaves, and Livguard. Tsuyo currently exports to Sri Lanka, Bangladesh, and the Philippines and plans to expand into Southeast Asia, Japan, Korea, and Europe.
The company aims to scale annual production to 20,000 high-wattage motors, achieve global certifications, launch retrofit solutions for 1.5–90 tonne commercial vehicles, and achieve 7–8x growth over the next three years. Tsuyo has also been selected by the Ministry of Electronics and Information Technology (MeitY) for an ICE-to-EV retrofit project for commercial vehicles.
Avaana Capital, founded in 2018, invests in frontier technology ventures across energy, supply chains, food systems, and advanced materials, with portfolio companies including Turno, Kazam, Dreamfly, Amperehour, and Aerem.
