Vecmocon's $18M Boost: Pioneering Future of Electric Vehicles

Vecmocon Technologies, a New Delhi-based deep-tech startup, has successfully secured over $18 million in a Series A funding round. The investment was largely supported by EIF, a venture capital firm focusing on sustainability, with additional contributions from Aavishkaar Capital, BII, and Blume Ventures.

The capital infusion will enable Vecmocon to expand its presence in the market and focus on enhancing its capabilities in embedded design, power electronics, IoT, and data science. This is a strategic move to power over 100,000 vehicles with Vecmocon's innovative solutions.

Beyond technical enhancements, the funding will also allow Vecmocon to scale up its team and develop R&D infrastructure within the electric automotive sector, aligning with its ambitions of global expansion. CEO Peeyush Asati highlights their commitment to building advanced systems 'in India, by Indian engineers, for the world.'

(With inputs from agencies.)