EV Deeptech Startup Vecmocon Raises $5.2 Million from Tiger Global, Blume

12 Oct 2022, 12:30 pm · 1431d ago · 1 min read · Indianweb2.com

Amount

$5.2M

Stage

Early Stage

Lead

Tiger Global

Delhi-based deeptech electric vehicle platform Vecmocon has raised $5.2 million in a funding round led by Tiger Global and Blume Ventures, alongside participation from strategic angel investors. Founded by Adarshkumar B, Peeyush Asati, and Shivam Wankhede, the startup was incubated at IIT Delhi and the Indian School of Business. Vecmocon develops intelligent electric vehicle components, battery management software, and vehicle intelligence systems. Having previously secured $300,000 in early capital, the startup plans to use the new proceeds to accelerate product engineering, expand research capabilities, and power more than 100,000 electric two-wheelers and three-wheelers across India within the next year.