Deep-tech Startup Vecmocon Raises its Series A Investment of USD 18mn led by Ecosystem Integrity Fund (EIF), Aavishkaar Capital and BII
June 09, 2025: Vecmocon Technologies, one of India’s foremost deep-tech startup working in sustainable and clean mobility, has closed its Series A funding of USD 18mn. The round was anchored by EIF, a sustainability focused VC fund, with participation from Aavishkaar Capital, one of India’s leading impact investing funds, and BII, U.K’s development finance institution. The investment round also saw participation from existing investor, Blume Ventures.
Founded in 2016 by IIT and ISB alumni, the New Delhi based startup is building “most robust systems” for Indian conditions, as the company builds for the global EV and clean energy transition. Leveraging the power of deep technology, Vecmocon’s mission is to ensure that the next generation of electric vehicles is smarter, more connected, and powered by innovative solutions that drive the EV revolution forward. It aims to integrate intelligent systems and data-driven insights into every EV, making them more responsive, adaptive, and efficient. In the coming years, Vecmocon is committed to advancing sustainable mobility by empowering EV brands with cutting-edge technology that reduces environmental impact.
This investment will support Vecmocon’s efforts to expand its market presence, focus on advancing capabilities in embedded design, power electronics, IoT, and data science and enabling its solutions to power over 1 Lakh vehicles on Indian roads. A portion of the funding will also support team expansion and the establishment of international-standard R&D infrastructure for the electric-automotive sector, whilst fuelling Vecmocon’s global ambitions.
Having established strong relationships with industry players by consistently delivering high-quality, reliable, and market-adaptive solutions, Vecmocon underscores the importance of developing indigenous expertise in computing elements for EVs to enhance efficiency and accessibility and to become a key supplier for EV OEMs and ecosystem players in India and other emerging markets. Their approach of integrating smart software, data insights, and financial solutions positions it as a leading vehicle intelligence provider in the EV sector.
Speaking about the fundraise,Peeyush Asati, Vecmocon CEO said, “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. We’re not just building for India—we’re building in India, by Indian engineers, for the world. Our commitment to initiatives such as ‘Atmanirbhar Bharat’ is deeply embedded in our product philosophy, empowering local alternatives to global IP and fostering technological sovereignty”.
Devin Whatley, Managing Partner, EIF, said, “At EIF, we’re thrilled to support Vecmocon as it builds the technical backbone for India’s rapidly expanding EV ecosystem. Its cutting-edge solutions unlock smarter, safer and more reliable EVs – accelerating the shift to sustainable transportation. With its customer-centric approach, demonstrated performance and passionate team, we believe Vecmocon is well-positioned to lead the EV intelligence movement in the country”.
Shashvat Rai, Partner at Aavishkaar Capital,said “We are delighted to support Vecmocon in their mission to revolutionize sustainable and clean mobility. This investment aligns perfectly with our commitment towards fostering innovative solutions that drive positive environmental impact. We believe Vecmocon’s cutting-edge technology will play a critical role in shaping the future of transportation in India”.
About Vecmocon Technologies
Founded and incubated in IIT Delhi in 2016 by Peeyush Asati, Shivam Wankhede and Adarshkumar Balaraman, Vecmocon Technologies is a full-stack, deep-tech company developing safety-critical electronic and software platforms for electric vehicles. Its offerings include Battery Management Systems (BMS), intelligent chargers, Vehicle Intelligence Modules (VIM), motor controllers, and cloud-based analytics that ensure superior performance, reliability, and data-driven insights for EV OEMs, fleet operators, and financial institutions. With over 215 employees, Vecmocon’s solutions are deployed in more than 100,000 vehicles, including two-wheelers, three-wheelers, and light commercial vehicles, with expansion plans targeting high-voltage vehicles, passenger cars, fleet operators and energy storage systems in both Indian and international markets.
About EIF
Ecosystem Integrity Fund (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. EIF takes a systems-based approach to sustainability investment, studying both the drivers for change as well as the constraints to innovation in market niches that are ripe for development. EIF invests in companies solving real problems, resulting in better investment opportunities and greater impact. The firm has over $650 million in assets under management. For more information, visit: www.eif.vc
About Aavishkaar Capital
Aavishkaar Capital is an Impact fund manager focused on the Global South. A pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, Aavishkaar Capital’s unique approach has resulted in its invested enterprises impacting over 144 million lives. Aavishkaar Capital invests in high environmental and social impact sectors across India, Emerging Asia, and Africa. Aligned to 13 out of the 17 Sustainable Development Goals, Aavishkaar Capital has successfully raised eight funds, while generating commercial returns with over c.$555 million in assets under management. | www.aavishkaarcapital.in
