Backed by Big Bets, Vecmocon Gears Up to Lead India’s EV Intelligence Revolution

In the race towards cleaner mobility and smarter electric vehicles, an Indian deep-tech startup is quietly making powerful strides. Vecmocon Technologies, an IIT Delhi-incubated venture building safety-critical electronics for electric vehicles (EVs), has successfully closed its Series A funding round with a total capital raise of $18 million. This latest infusion adds $8 million from the second phase of the Series A round, led by Ecosystem Integrity Fund (EIF) and joined by impact investment firm Aavishkaar Capital.

The fresh investment builds upon $10 million already raised in November 2024 from EIF, British International Investment (BII), and returning investor Blume Ventures—who has been backing the company since its pre-Series A journey.

But this is more than just a funding announcement. It’s a signal that India’s EV ambitions are finding real support in technology-first companies like Vecmocon, which is working to create the very backbone of electric mobility: intelligence, safety, and scalability.

A Made-in-India Tech Powerhouse

At a time when countries across the globe are trying to secure supply chains and promote self-reliance, Vecmocon is proudly championing the 'Make in India' mantra.

“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,” said Peeyush Asati, CEO and Co-Founder of Vecmocon.

He emphasized that the company’s mission is deeply rooted in manufacturing and innovating in India—for both domestic and global markets. “In doing so, we are preparing to become a significant contributor to the global transition efforts towards sustainable electric mobility and clean energy,” he added.

The Brains Behind the Battery

Vecmocon is not just another EV component company. It’s building a full-stack EV intelligence platform. From Battery Management Systems (BMS) to Vehicle Intelligence Modules (VIMs) and smart chargers, the startup offers solutions tailored to the evolving needs of OEMs, fleet operators, and EV infrastructure players.

With a strong focus on functional safety, OTA (over-the-air) upgrades, and AI-powered analytics, Vecmocon is developing technologies that make EVs not just cleaner but also smarter and safer.

As India inches closer to mass EV adoption under programs like FAME-II and the Production Linked Incentive (PLI) scheme, innovations from companies like Vecmocon will play a central role in shaping reliable, locally-developed electric vehicles.

Global Vision, Indian Roots

This Delhi-based startup’s roadmap doesn’t stop at Indian roads. Vecmocon is preparing to take its technology global, with plans to integrate futuristic features such as zonal ECU-compliant architectures, 5G-enabled V2X communication devices, and automotive-grade cybersecurity protocols.

Such innovations are not just relevant—they’re critical as EVs become more connected and autonomous. Vecmocon’s emphasis on secure boot environments and comprehensive data security shows a strong commitment to reliability and safety—an area often cited as a concern in EV adoption.

Investors Backing the Big Vision

Devin Whatley, Managing Partner at EIF, shared his confidence in Vecmocon’s path,“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.”

Shashvat Rai, Partner at Aavishkaar Capital, echoed the sentiment, calling the investment “a step towards driving positive environmental impact.” He added, "Vecmocon’s team has made great strides in developing the right solutions for marquee Indian OEMs, and we believe their cutting-edge technology will play a critical role in shaping the future of the global EV industry.”

Since its founding in 2016, Vecmocon has already enabled more than 100,000 electric vehicles across two-wheelers, three-wheelers, and light commercial vehicles. With an ambitious eye on scaling into high-voltage platforms, passenger cars, electric buses, and energy storage systems, the company is positioning itself as a formidable player not just in India, but globally.

Founded by Peeyush Asati (CEO), Adarshkumar Balaraman (COO), and Shivam Wankhede (CTO), the startup’s leadership combines deep technical expertise with an unwavering commitment to sustainable innovation.

Why This Matters for India’s Startup and EV Ecosystem

Vecmocon’s journey reflects a larger trend in India’s startup ecosystem—where deep-tech ventures are coming into the spotlight, not just building software or platforms, but innovating at the intersection of hardware, software, and sustainability.

In a country aiming for net-zero emissions by 2070, the electric vehicle segment is not just about convenience; it’s about climate action. Startups like Vecmocon are showing that with the right technology, support, and vision, India can become a global leader in electric mobility.

As the company continues to innovate and expand, it stands as a promising symbol of how India's startup ecosystem can contribute meaningfully to solving global challenges—one EV at a time.