Altroz Elevators in Talks with Investors for First Funding Round, Eyes Nationwide Expansion

New Delhi : Delhi-based Altroz Elevators, a fast-growing player in the Indian elevator installation and manufacturing space, is gearing up for its maiden investment round as it looks to scale operations nationwide. The company is in discussions with entrepreneur Prafull Billore’s investment firm (Tirla investment), TRA Ventures led by business consultant, bestselling author and TEDx speaker Tarun Raj Arora, and a third undisclosed investor. While the funding amount has not been revealed, industry watchers expect it to be a game-changing deal for the vertical transportation sector.

Founded to deliver reliable and affordable mobility solutions, Altroz Elevators has already installed over 100 elevators in residential and commercial projects across North India. With fresh funding, the company plans to strengthen its manufacturing base, expand its service footprint, and capture emerging demand in Tier-2 and Tier-3 cities.

India’s Elevator Industry on the Rise

The Indian elevator and escalator industry is on a steep growth trajectory. Valued at around ₹15,000 crore in FY24, the market is expected to grow at a CAGR of 8–10%, touching nearly ₹25,000 crore by 2030. With India ranking as the second-largest market globally after China, the sector witnesses around 60,000–65,000 new elevator installations annually.

Urbanisation, rising disposable incomes, and increasing high-rise construction are driving this demand. Government initiatives like Pradhan Mantri Awas Yojana (PMAY) and the real estate boom in smaller cities are also boosting the need for affordable, energy-efficient, and safe elevator systems.

Multinational majors such as KONE, Otis, and Schindler dominate the premium segment, but the mid-market remains fragmented, offering opportunities for homegrown players like Altroz to establish a scalable, tech-enabled brand.

Investors Speak

On the development, Prafull Billore, popularly known as MBA Chaiwala and now an active investor, said:

“Infrastructure is the backbone of India’s growth story. Altroz Elevators represents the kind of entrepreneurial ambition we love to back—reliable, scalable, and built for Bharat, not just metros. We are excited about the possibilities this partnership can create.”

Tarun Raj Arora, founder of TRA Ventures, added:

“The elevator industry is not just about moving people; it’s about ensuring safety, reliability, and long-term service. What excites us about Altroz is their vision to combine affordability with technology. At TRA Ventures, we aim to bring strategic guidance, branding expertise, and operational scalability to help them become a nationwide force.”

Sunil Kumar Rai, Founder of Altroz Elevators, said:

“This investment will be transformative for us. We are committed to building a truly Indian brand that delivers world-class elevator solutions while staying affordable for real estate developers and end consumers alike. With the backing of visionary investors, we are confident about our next phase of growth.”

The Road Ahead

With funding in place, Altroz Elevators plans to enhance its manufacturing capabilities, roll out a nationwide service network, and invest in smart elevator technologies—including IoT-enabled monitoring systems, AI-based predictive maintenance, and eco-friendly energy solutions.

Industry analysts believe that if executed well, Altroz could emerge as one of the few Indian-origin brands capable of competing head-to-head with global giants in the next decade.

As Indian cities continue to rise vertically, Altroz Elevators aims not only to lift people across floors but also to elevate India’s industrial innovation and entrepreneurial vision.