Vecmocon Technologies Secures USD 10 Mn in Series A Funding to Advance EV Intelligence The Delhi-based startup aims to use the funding to enhance R&D in high-voltage systems, ESS, 5G connectivity, and Zonal ECU architectures, expand its team, and establish global-standard R&D infrastructure for EV advancements.
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Delhi-based vehicle intelligence startup Vecmocon Technologies has raised USD 10 million in the first phase of its Series A funding round. The round was led by Ecosystem Integrity Fund (EIF), with participation from Blume Ventures and British International Investment (BII).
Notably, Tiger Global, which participated in Vecmocon's USD 5.2 million pre-Series A round in October 2022, was absent from this latest funding.
Founded in 2016 at IIT Delhi by Peeyush Asati, Adarshkumar Balaraman, and Shivam Wankhede, Vecmocon specialises in advanced computing solutions for electric vehicles (EVs), including battery management systems (BMS), vehicle intelligence modules (VIM), and EV chargers. Its technology powers over 70,000 vehicles on Indian roads and serves prominent clients such as Exide, BGauss, and Battery Smart.
Strategic Use of Funds
Vecmocon plans to utilise the new capital to expand its reach in various segments of the market, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses.
Peeyush Asati, CEO of Vecmocon Technologies, said, "This latest funding round will enable Vecmocon to further its R&D in high-voltage systems, energy storage systems (ESS), develop Zonal ECU-compliant architectures, advance 5G automotive connectivity solutions, and team expansion. With strategic support from global investors, the company is dedicated to creating world-class EV solutions in India for the global market. A part of the capital will also be directed toward establishing international-standard R&D infrastructure for the electric-automotive sector."
Global Expansion and Market Presence
With a strong foothold in India, Vecmocon is expanding its international reach, particularly in Southeast Asia and Africa. The startup currently operates in key Indian cities, including Delhi, Bangalore, Chennai, and Lucknow, with a team of over 180 associates.
Investors have expressed confidence in Vecmocon's potential to lead the EV intelligence movement. Devin Whatley, Managing Partner at EIF, highlighted Vecmocon's ability to deliver superior performance, safety, and adaptability. "In an increasingly crowded Indian EV market, Vecmocon offers customers a competitive edge by enabling quicker time to market and enhanced reliability," he remarked.
Chirantan Patnaik, Director at BII, underscored the importance of Vecmocon's R&D-driven approach in addressing the rising EV penetration in India. "Vecmocon's expertise in designing computing elements makes EVs efficient and accessible, positioning them as a critical supplier to OEMs and ecosystem players," he said.
Arpit Agarwal, Partner at Blume Ventures, praised Vecmocon's agility and comprehensive ecosystem approach, combining smart software, data insights, and financial solutions. "Their vision and execution are reshaping the EV industry," he added.
With this infusion of capital and strategic backing, Vecmocon is poised to strengthen its leadership in vehicle intelligence and contribute to the global EV revolution.
