Vidyut tech is a company that helps people use electric vehicles (EVs) easily and affordably. It has raised $2.5 million from Flourish Ventures to grow its Battery-as-a-Service (BaaS) model. This means people can use EV batteries without buying them, making EVs cheaper.
Vidyut works with big companies like Tata Motors and MG Motor India. It also helps businesses earn more money by switching to EVs. The company has also started an EV resale platform, making it easy to sell old EVs. Vidyut aims to make EVs popular and help India move towards clean energy.
What is Vidyut Tech?
Vidyut Tech is a full-stack electric vehicle (EV) ecosystem platform that provides financing, battery solutions, and resale services to make EV ownership easier and more affordable. It offers a Battery-as-a-Service (BaaS) model, allowing users to subscribe to EV batteries instead of buying them upfront, reducing costs by 30-40%.
Vidyut works with major companies like Tata Motors, MG Motor India, and Mahindra to expand EV adoption in India. It also has an EV resale platform that helps commercial vehicle owners sell their used EVs easily. Vidyut aims to accelerate India’s clean energy transition by making EVs accessible and financially viable.
Why is This Funding Significant?
The $2.5 million funding from Flourish Ventures is a major boost for Vidyut Tech as it will help expand its Battery-as-a-Service (BaaS) model in both passenger and commercial EV markets. This investment is crucial because it makes EV ownership more affordable by allowing users to pay for batteries separately instead of buying them upfront, reducing initial costs by 30-40%.
The funding will also support Vidyut’s expansion into new cities and vehicle segments, helping more businesses and fleet operators switch to EVs. Additionally, Vidyut’s data-driven financing solutions solve key challenges like battery degradation risks, making EVs a financially viable option.
With strong OEM partnerships and 15% month-on-month growth, this funding will accelerate Vidyut’s mission to drive India’s clean energy transition and make EVs more accessible nationwide.
How Will the Funds Be Used?
The $2.5 million funding will be used to expand Vidyut’s Battery-as-a-Service (BaaS) model in both passenger and commercial EV segments. This will help reduce the upfront cost of EV ownership, making it more affordable for businesses and fleet operators.
The funds will also support Vidyut’s growth into new cities and vehicle segments, strengthening its presence in the Indian EV market. Additionally, Vidyut will use the investment to enhance its data-driven financing solutions, which predict battery life and value, helping customers get better financing options. With this expansion, Vidyut aims to accelerate EV adoption and support India’s clean energy transition.
Founders’ Perspective
Vidyut Tech was founded in 2021 by Xitij Kothi and Gaurav Srivastava, who previously worked at Swiggy and Bounce. They believe that the key to increasing EV adoption is to make ownership more affordable and risk-free.
Their focus is on expanding EV accessibility, reducing upfront costs, and ensuring businesses can switch to EVs without financial risk. With this funding, they aim to accelerate India’s transition to clean and sustainable energy solutions.
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Key Takeaways
- $2.5 Million Investment – Vidyut secured funding from Flourish Ventures to expand its Battery-as-a-Service (BaaS) model in passenger and commercial EV segments.
- Affordable EV Ownership – By unbundling batteries from vehicles, Vidyut reduces upfront EV costs, making them more accessible for businesses and fleet operators.
- Strong Growth & Partnerships – With 15% month-on-month growth and partnerships with Tata Motors, MG Motor India, Mahindra, Piaggio, and Euler Motors, Vidyut is rapidly expanding.
- Data-Driven Financing – Vidyut solves battery degradation risks by analyzing real-time performance data, offering usage-based financing that aligns with actual asset performance.
- Scaling EV Adoption – The funding will support expansion into new cities, boost EV resale solutions, and drive India’s transition to clean energy.
Conclusion:
Vidyut’s $2.5 million funding marks a significant step toward making EV ownership more accessible and affordable. With its Battery-as-a-Service (BaaS) model, data-driven financing, and strong industry partnerships, Vidyut is set to revolutionize EV adoption in India. The company plans to expand into new cities, introduce more vehicle segments, and strengthen its resale platform.
By addressing key challenges like high upfront costs and battery degradation risks, Vidyut is accelerating India’s clean energy transition. As the EV market grows, Vidyut aims to be a key player in sustainable mobility, helping businesses embrace profitable and eco-friendly transportation solutions.
Expand Your Fleet the Smart Way! Vidyut helps businesses go electric with zero risk.
