Electric vehicle (EV) intelligence startup Vecmocon Technologies is making headlines with its latest funding round, raising INR 74 crore (approximately $8.7 million). The round is being led by Aavishkaar Capital, with continued support from existing investors Ecosystem Integrity Fund (EIF) and Blume Ventures. This fresh infusion of capital marks a significant milestone for the startup as it continues to scale its operations in India’s booming electric mobility space.
Breakdown of the Funding Round
According to regulatory filings, the funding includes both primary and secondary transactions. In the primary round, Vecmocon will raise INR 50.4 crore through the issuance of new shares. EIF is contributing INR 21 crore, while the remaining investment will come from Aavishkaar Capital.
On the secondary side, early-stage investor Tessellate Tech Ventures is making a complete exit from the company. Tessellate is offloading its 2.97% equity stake for a total of INR 15.85 crore. This marks a remarkable return on investment, considering Tessellate originally invested INR 1.5 crore, resulting in a 10X+ return—a testament to Vecmocon’s growth and investor confidence.
What This Means for Vecmocon Technologies
Founded with a vision to transform the EV ecosystem through data-driven intelligence, Vecmocon specializes in developing EV components like battery management systems (BMS), vehicle intelligence modules, and motor controllers. Their tech-enabled approach allows EV manufacturers to improve vehicle performance, safety, and battery lifespan through deep analytics and real-time monitoring.
This new funding will allow Vecmocon to:
- Expand its R&D capabilities
- Strengthen its product portfolio
- Scale up manufacturing and hiring
- Increase its market penetration across India and global markets
With the Indian government pushing for electrification and green mobility, Vecmocon is well-positioned to leverage the rising demand for intelligent EV solutions.
Investors Show Confidence in EV Future
The participation of reputed investors like Aavishkaar Capital and EIF signals strong confidence in the startup’s long-term potential. Aavishkaar Capital, known for impact investing, aligns well with Vecmocon’s mission of sustainable mobility. Similarly, EIF has a history of backing cleantech startups that promise both environmental impact and scalable business models.
