IIT Delhi Incubated Startup Vecmocon Raises $18 mn to Expand Market Presence
A portion of the funding will also support team expansion and the establishment of international-standard R&D infrastructure
Vecmocon Technologies, founded and incubated in IIT Delhi in 2016, has closed its Series A funding of $18 million.
This investment will support Vecmocon’s efforts to expand its market presence, focus on advancing capabilities in embedded design, power electronics, IoT, and data science and enabling its solutions to power over 1 Lakh vehicles on Indian roads.
A portion of the funding will also support team expansion and the establishment of international-standard R&D infrastructure for the electric-automotive sector, whilst fuelling Vecmocon’s global ambitions.
The New Delhi-based startup is building “most robust systems” for Indian conditions, as the company builds for the global EV and clean energy transition.
It aims to integrate intelligent systems and data-driven insights into every EV, making them more responsive, adaptive, and efficient.
In the coming years, Vecmocon is committed to advancing sustainable mobility by empowering EV brands with cutting-edge technology that reduces environmental impact.
"This infusion of capital will supercharge our efforts to engineer the next generation of the most robust, high-performance, software-defined, and safety-critical systems uniquely tailored for Indian conditions and global deployment in electric vehicles and clean energy systems," Peeyush Asati, Vecmocon CEO, said.
The round was anchored by EIF, a sustainability focused VC fund, with participation from Aavishkaar Capital, one of India’s leading impact investing funds, and BII, U.K’s development finance institution. The investment round also saw participation from existing investor, Blume Ventures.
"At EIF, we’re thrilled to support Vecmocon as it builds the technical backbone for India’s rapidly expanding EV ecosystem. Its cutting-edge solutions unlock smarter, safer and more reliable EVs – accelerating the shift to sustainable transportation," Devin Whatley, Managing Partner, EIF, said.
“We are delighted to support Vecmocon in their mission to revolutionize sustainable and clean mobility. This investment aligns perfectly with our commitment towards fostering innovative solutions that drive positive environmental impact," Shashvat Rai, Partner at Aavishkaar Capital, said.
Founded by by Peeyush Asati, Shivam Wankhede and Adarshkumar Balaraman, Vecmocon Technologies is a full-stack, deep-tech company developing safety-critical electronic and software platforms for electric vehicles.
Its offerings include Battery Management Systems (BMS), intelligent chargers, Vehicle Intelligence Modules (VIM), motor controllers, and cloud-based analytics that ensure superior performance, reliability, and data-driven insights for EV OEMs, fleet operators, and financial institutions.
Comments ()