Latest news with #Vecmocon
Entrepreneur
18-06-2025
- Automotive
- Entrepreneur
Institutional Investors Bet Big on Scalable Climate Solutions
India's clean-tech and EV investment landscape is rapidly evolving, from strong early stage funding to a deep focus on commercial scale and infrastructure, backed by robust frameworks, investors are not financing end-to-end solutions. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's clean-tech and EV investment landscape is rapidly evolving, from strong early stage funding to a deep focus on commercial scale and infrastructure, backed by robust frameworks, investors are not financing end-to-end solutions. According to Grip Invest, 2024 saw a significant rise in funding, attracting USD 564 million, a 37 per cent increase. Sustainable mobility (EV, OEMs, shared mobility, and batteries) accounted for over 70 per cent of funding, close to USD 220 million in Q2. Coming to institutional investment commitments, the United Kingdom's investment arm, British International Investment (BII) deployed USD 22.5 million in December 2024 into India's EV ecosystem, with a USD 15 million fund towards Everest Fleet and TI Clean Mobolity and a USD 3.5 million to Vecmocon, bringing its total commitment in the EV sector to USD 328 million. Schemes like Production-Linked Incentives (PLIs), which gave approximately USD 2.1 billion for advanced cell chemistry/batteries, USD 2.3 billion for solar panels, FAME II/III allocated $1.3 B through 2024 with another USD 300 million for FY 25. According to Crisil, India's green investments are projected to grow fivefold to INR 31 Lakh Crore, which is approximately USD 376 billion by 2030. Tarun Kapoor, Adviser to the PMO said this at a FICCI conference last year, "On 2‑wheelers, we should have much higher targets and a complete replacement is what we have to look for. On 4‑wheelers, government is fully supportive and there is a need to look at GST on batteries and charging stations," expressing ambition for full electrification of smaller EV segments. Tax incentives and import reductions seek to correct the heavy dependency on imported EV components . However, Orf research highlights a USD 44 billion per year climate funding gap and that current public-private investment falls well short of the USD 385 billion required by 2030. Vasudha Madhavan, Founder and CEO, Ostara Advisors said that the firm is observing a growing shift toward the broader climate tech ecosystem, which now encompasses not just renewables and solar energy, including rooftop solar, but also areas like industrial decarbonization, clean logistics, and energy-efficient warehousing. "Investor interest is expanding beyond the earlier EV-centric focus to include a diverse range of sectors contributing to decarbonization. However, the key challenge lies in ensuring these companies have strong unit economics and a clear path to profitability and scale. Additionally, there is increasing investor interest in niche segments within the EV space, including EV OEMs and ecosystem enablers such as financing solutions. There's a notable rise in attention from global investors, particularly from APAC, the Middle East, and other regions. We're also seeing the emergence of India-domiciled climate funds aimed at providing growth capital," said Madhavan, As private capital flows into Indian climate tech, we anticipate significant momentum toward building profitable, scalable businesses,driven by the immense opportunity the Indian market presents, added Madhavan. The events signal a shift, a shift in investor confidence that is transitioning from speculative to strategic scale plays, laying the groundwork for India's green technology future.
Time of India
10-06-2025
- Automotive
- Time of India
Vecmocon Technologies raises $18 million in series A funding
Vecmocon Technologies has announced the closure of its Series A funding round, raising a total of $18 million. The second phase of the round includes $8 million led by Ecosystem Integrity Fund (EIF), with additional participation from Aavishkaar Capital . This follows the first phase in November 2024, which brought in $10 million from EIF, British International Investment (BII), and existing investor Blume Ventures. Blume Ventures had also supported the company during its pre-Series A stage. Peeyush Asati, CEO and Co-Founder of Vecmocon, said, 'This infusion of capital will be used to further accelerate our Research and Development endeavours, with a goal of building the most robust and advanced platforms for connected electric vehicles and energy storage ecosystems. We are committed to designing, developing, and manufacturing entirely within India to address both Indian and global market demands effectively. In doing so, we are preparing to become a significant contributor to the global transition efforts towards sustainable electric mobility and clean energy.' Focus on EV intelligence and localisation Vecmocon is building an EV intelligence stack that includes Battery Management Systems (BMS), smart chargers, Vehicle Intelligence Modules (VIMs), OTA infrastructure, and analytics platforms. These technologies are aimed at supporting OEMs, fleet operators, and infrastructure companies in both Indian and international markets. Devin Whatley, Managing Partner at EIF, commented, '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 . With its customer-centric approach, demonstrated performance, and passionate team, we believe Vecmocon is well-positioned to lead the EV intelligence movement in the country.' Aligned with government initiatives such as Make in India, FAME-II, and the Production Linked Incentive (PLI) scheme, Vecmocon's products are entirely designed and manufactured in India. Shashvat Rai, Partner at Aavishkaar Capital, said, 'We are delighted to support Vecmocon in their mission to revolutionise sustainable and clean mobility. This investment aligns perfectly with our commitment towards fostering innovative solutions that drive positive environmental impact. The Vecmocon team has made great strides in developing the right solutions for marquee Indian OEMs, and we believe Vecmocon's cutting-edge technology will play a critical role in shaping the future of the global electric vehicle industry.' The company is also preparing for international expansion by integrating new technologies such as zonal ECU-compliant architectures, 5G-enabled V2X communication, secure boot systems, and automotive cybersecurity protocols.
Entrepreneur
09-06-2025
- 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.
