Founded in 2016, at IIT Delhi by Peeyush Asati, Adarsh kumar Balaraman and Shivam Wankhede, Vecmocon technologies is a vehicle intelligence and analytics startup. Vecmocon builds and design core components like BMS, motor controllers, vehicle intelligence module, chargers, etc for EVs (electric vehicles).
Vision of Vecmocon
As per their website, the name ‘Vecmocon’ comes from ‘vector motion control’. This company aims to empower every EV brand so that they can deliver brilliant product experience to their customers, while being sustainable. They also intend to enter into strategic partnerships that help them further their goal of EV revolution.
Vecmocon Technology Pvt Ltd is a DIPP (Department of Industrial Policy and Promotion) recognised Start-up that aims at transforming the way the EV ecosystem currently works.
In simple words, Vecmocon aspires that one in every two EVs should have Vecmocon’s tech-stack installed.
Raised $10 mn in the first phase of its series A funding.
This Delhi based Vehicle intelligence start-up has recently raised $10 million in the first phase of its series A funding round.
The investment was led by the Ecosystem Integrity Fund (EIF), with participation from Blume Ventures and British International Investment (BII).
The company already collaborating with customers like Exide, BGauss, and Battery Smart, is going to use this capital in it’s various sectors, two wheeler, three wheeler, Light commercial vehicles (LCVs) and buses.
CEO of Vecmocon, Peeyush Asati said “This latest funding round will enable Vecmocon to further its research and development in high-voltage systems, energy storage system (ESS), develop zonal electronic control unit-compliant architectures, advance 5G automotive connectivity solutions and team expansion,”.
Asati added “EVs make a lot of sense both from an economic and climate perspective, especially because the cost of energy storage, specifically batteries, has decreased significantly. This has led to accelerated adoption of EVs as vehicle prices have dropped considerably. The commercial vehicle segment, where operational costs are high, has been the fastest to adopt electric mobility because EVs offer lower operating costs,”.
In October 2022, Vecmocon raised $5.2 million in it’s pre series A funding round from Tiger Global and Blume Ventures, along with angel investors.
Arpit Agarwal, partner at Blume Ventures appreciated Vecmocon by saying that they continue to impress with how quickly they adapt to market demands. Their fast growth and strong partnerships in the industry show they’re a leader in vehicle intelligence.
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