Hinduja Tech secures $50-million investment from PE Fund Creador

Hinduja Tech Limited (HT), a mobility-focused global engineering R&D services company and a subsidiary of Ashok Leyland, has secured a $50 million investment from Creador, a PE firm focused on long-term investments in growth-oriented businesses in India and Southeast Asia.

HT on Thursday announced that it signed a definitive agreement for Creador to invest the amount by acquiring 19.6 per cent shareholding in the company. This investment places HT at a post-money equity value of $255 million, says a release.

The infusion of capital will allow HT to augment its existing capabilities in research and development through organic and inorganic means, enhance its global footprint and expand its state-of-the-art labs to gain momentum in its journey towards emerging as a global leader in sustainable engineering mobility services.

HT has been making significant strides in the mobility industry, by expanding its capabilities and partnerships to drive innovation and growth. It has also collaborated with numerous players in the mobility space, to support their development and production efforts across various segments, from traditional buses and sports cars to electric and autonomous vehicles, says a release.

Kumar Prabhas, CEO of Hinduja Tech Limited, said, “We have an ambitious growth plan in the sustainable engineering mobility segment. We are very pleased to partner with Creador, their investment will allow Hinduja Tech to accelerate its Global growth plans.

“HT has established itself as a key player in the mobility ER&D industry with marquee customers across the globe” said Anish Kedia, Director at Creador. “With its deep capabilities across engineering, powertrain and electronics, we believe HT is well poised towards creating sustainable and profitable solutions for the future of mobility.”

In FY 2023, Hinduja Tech had acquired Drive System Design, a UK and US-based company, specialising in e-powertrain design. This acquisition coupled with other key milestones achieved demonstrates Hinduja Tech’s commitment to staying at the forefront of the rapidly evolving mobility landscape and its dedication to providing innovative solutions for its clients, the release said.

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