Electric mobility systems provider Vecmocon Technologies has completed its Series A funding round, raising a total of $18 million. The latest phase of $8 million was led by Ecosystem Integrity Fund (EIF), with participation from Aavishkaar Capital. This builds on $10 million secured in November 2024 from EIF, British International Investment (BII) and Blume Ventures.
The company plans to use the capital to expand its research and development efforts in building electric vehicle (EV) and energy storage platforms. According to Peeyush Asati, CEO and Co-Founder, Vecmocon, “This infusion of capital will be used to further accelerate our research and development endeavours, with a goal of building the most robust and advanced platforms for connected electric vehicles and energy storage ecosystems.”
Vecmocon develops Battery Management Systems (BMS), smart chargers, Vehicle Intelligence Modules (VIM), over-the-air (OTA) update infrastructure and analytics tools. These products support OEMs, fleet operators and EV infrastructure firms in India and other markets.
The company’s manufacturing and design operations are based in India. Asati said, “We are committed to designing, developing, and manufacturing entirely within India to address both Indian and global market demands effectively.”
EIF, the lead investor in both funding rounds, has stated that Vecmocon’s products align with EV sector needs. Devin Whatley, Managing Partner at EIF, said, “Its cutting-edge solutions unlock smarter, safer, and more reliable EVs – accelerating the shift to sustainable transportation.”
The investment is also aligned with central government initiatives such as Make in India, FAME-II and the Production Linked Incentive (PLI) scheme. Vecmocon’s decision to manufacture locally is consistent with these goals.
Aavishkaar Capital has joined the investor group in this latest phase. Shashvat Rai, Partner at Aavishkaar Capital, said, “We are delighted to support Vecmocon in their mission to revolutionise sustainable and clean mobility. This investment aligns perfectly with our commitment towards fostering innovative solutions that drive positive environmental impact.”
Founded in 2016 and incubated at IIT Delhi, Vecmocon supplies systems to more than 100,000 vehicles, including two-wheelers, three-wheelers and light commercial vehicles. The company plans to expand into higher-voltage vehicles, passenger cars, electric buses, electric trucks and stationary energy storage.
It is also working on technologies to support international markets, including zonal ECU-compliant systems, 5G-based vehicle-to-everything (V2X) communication, secure boot mechanisms and cybersecurity protocols. These are intended to meet safety and connectivity requirements for future EV platforms.
