Latest news with #AavishkaarCapital
Entrepreneur
9 hours ago
- Automotive
- Entrepreneur
Vecmocon Secures $18 Million Series A to Scale EV Intelligence Systems
Vecmocon has developed a strong footprint by supplying intelligent, adaptive components to EV manufacturers, aiming to be a key technology provider in both Indian and emerging global markets You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Vecmocon Technologies, a deep-tech startup working on sustainable mobility solutions, has raised $18 million in a Series A funding round aimed at accelerating its efforts to build advanced electric vehicle (EV) systems tailored for Indian and global markets. The funding round was led by sustainability-focused venture capital firm EIF, with participation from Aavishkaar Capital and the UK's development finance institution, British International Investment (BII). According to a press release issued by the company, existing investor Blume Ventures also joined the round. The capital infusion is expected to bolster Vecmocon's push to scale its proprietary embedded systems, power electronics, and data intelligence platforms, which currently power tens of thousands of vehicles across India. Founded in 2016 by alumni of IIT and ISB, the New Delhi-based company is focused on developing what it describes as "the most robust systems" suited for Indian conditions while aligning with the global transition toward clean energy. The firm plans to use the funds to expand its engineering teams, enhance R&D capabilities, and set up infrastructure that meets international standards for the electric automotive sector. "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," said Peeyush Asati, CEO of Vecmocon. He emphasized the company's alignment with India's push for technological self-reliance, noting, "We're not just building for India—we're building in India, by Indian engineers, for the world." Vecmocon has developed a strong footprint by supplying intelligent, adaptive components to EV manufacturers, aiming to be a key technology provider in both Indian and emerging global markets. Its solutions integrate real-time data analytics, smart software, and system-level intelligence to improve the performance, safety, and efficiency of electric vehicles. Backing the company's vision, Devin Whatley, managing partner at EIF, stated, "Its cutting-edge solutions unlock smarter, safer and more reliable EVs—accelerating the shift to sustainable transportation… we believe Vecmocon is well-positioned to lead the EV intelligence movement in the country" Shashvat Rai, partner at Aavishkaar Capital, 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 The funding positions Vecmocon to scale its platform toward powering over 100,000 EVs, while on the road to become a key supplier for EV OEMs and ecosystem players in India and other emerging markets.
Time of India
11 hours ago
- Automotive
- Time of India
Vecmocon Technologies raises over $18 million in Series A round
Deep-tech startup Vecmocon Technologies on Monday said it has raised over $18 million (about Rs 153 crore) in Series A funding round. The round was anchored by sustainability focused venture capital fund EIF with participation from Aavishkaar Capital and BII, UK's development finance institution as well as existing investor Blume Ventures, the company said. The fresh investment will support the platform'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 more than 1 lakh vehicles on roads, it said. Besides, a portion of the funding will support team expansion and the establishment of R&D infrastructure for the electric-automotive sector, while fuelling the company's global ambitions. "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. We're not just building for India - we're building in India, by Indian engineers, for the world," Peeyush Asati, CEO of Vecmocon, said. Live Events Founded in 2016 by IIT and ISB alumni, the New Delhi-based startup is building "most robust systems" for Indian conditions. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company said it aims to integrate intelligent systems and data-driven insights into every EV, making them more responsive, adaptive, and efficient.
