Delhi-based vehicle intelligence startup Vecmocon Technologies has successfully secured $10 million in the first phase of its Series A funding round. The round, led by Ecosystem Integrity Fund (EIF), saw participation from Blume Ventures and British International Investment (BII).
This new investment follows a $5.2 million pre-Series A round in October 2022, in which Tiger Global had participated. However, Tiger Global did not participate in this latest funding round.
Vecmocon: Pioneering EV Intelligence Solutions
Founded in 2016 by IIT Delhi alumni Peeyush Asati, Adarshkumar Balaraman, and Shivam Wankhede, Vecmocon Technologies specializes in cutting-edge computing solutions for electric vehicles (EVs). The company’s offerings include Battery Management Systems (BMS), Vehicle Intelligence Modules (VIM), and EV chargers, playing a crucial role in optimizing EV performance. Vecmocon’s technology currently powers over 70,000 vehicles across India, with leading clients such as Exide, BGauss, and Battery Smart.
Strategic Use of Funding for EV Expansion
Vecmocon plans to use the funds raised to expand its presence across key segments of the EV market, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and electric buses. The capital will also support the company’s ongoing research and development efforts in high-voltage systems, energy storage solutions (ESS), 5G automotive connectivity, and Zonal ECU-compliant architectures.
Peeyush Asati, CEO of Vecmocon, emphasized, “This funding round will help accelerate our R&D, expand our team, and build world-class EV solutions in India that cater to global markets. We’re committed to enhancing the electric automotive ecosystem and setting new standards for performance and safety.”
Global Market Expansion and Strong Investor Confidence
Vecmocon’s success in India is paving the way for international growth. The company is focusing on expanding its market presence in Southeast Asia and Africa while continuing to strengthen its footprint in key Indian cities like Delhi, Bangalore, Chennai, and Lucknow. The company’s growing team now includes over 180 associates.
Investors have expressed strong confidence in Vecmocon’s ability to lead the EV intelligence revolution. Devin Whatley, Managing Partner at EIF, stated, “Vecmocon’s cutting-edge technology offers EV manufacturers a competitive advantage in the crowded Indian market, delivering faster time to market and enhanced reliability.”
Chirantan Patnaik, Director at BII, highlighted the significance of Vecmocon’s R&D-driven approach in supporting India’s rapidly growing EV market. “Vecmocon’s expertise in computing systems and energy efficiency makes them an indispensable partner for OEMs and ecosystem players alike,” he said.
Arpit Agarwal, Partner at Blume Ventures, praised Vecmocon’s holistic approach to the EV sector, integrating smart software, data insights, and financial solutions. “Vecmocon’s innovation and agility are reshaping the electric vehicle landscape,” he added.
Looking Ahead: A Smarter, Greener Future
With the global EV market expanding rapidly, Vecmocon is well-positioned to play a pivotal role in transforming the industry. The company’s focus on intelligent, reliable, and scalable solutions for the electric automotive sector is not only contributing to India’s green mobility goals but also placing it on the global map for EV innovation.