Vecmocon Technologies, a deep-tech startup working on sustainable and clean mobility in India, has closed its $18-million Series A funding anchored by Ecosystem Integrity Fund (EIF), a sustainability-focused VC fund.
Impact investor Aavishkaar Capital and BII, the UK’s development finance institution, joined the round. The investment round also saw participation from existing investor Blume Ventures.
Founded in 2016 by alumni of IIT and ISB, the New Delhi-based startup is driving the global transition to electric vehicles and clean energy. With a focus on making the next generation of EVs smarter, more connected, and powered by technology, the company is building innovative solutions that align with the future of sustainable mobility.
Vecmocon claims to integrate intelligent systems and data-driven insights into every EV to make them more responsive, adaptive, and efficient.
The investment will help Vecmocon grow its presence in the market and double down on its work in embedded design, power electronics, IoT, and data science. A portion of the funding will also be used to ramp up its headcount and work on R&D infrastructure for the electric-automotive sector.
“We’re not just building for India – we’re building in India, by Indian engineers, for the world,” said Peeyush Asati, CEO at Vecmocon, in a media statement. “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,” he added.
Lead investor EIF invests in early growth-stage companies contributing to environmental sustainability and climate resilience across multiple sectors, including renewable energy, transportation, agriculture and food, climate resilience, green chemistry, waste reduction, and efficiency. Its other investments include Battery Smart, a battery swapping network for electric two- and three-wheelers.
The firm manages over $650 million in assets.
