Vecmocon raises $10 million in the first phase of Series A funding

The vehicle intelligence firm will use the funding to expand its reach in various market segments, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses

Vecmocon, a vehicle intelligence company, has raised $10 million in the first phase of its Series A funding, led by Ecosystem Integrity Fund (EIF) with participation from Blume Ventures and British International Investment (BII). The company, which is already collaborating with customers like Exide, BGauss, and Battery Smart, will use the funding to expand its reach in various market segments, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses. 

 

Vecmocon has over the past eight years developed capabilities in embedded design, power electronics, Internet of Things (IoT), and data science, all of which are now present on about 70,000 Indian vehicles.  

 

While India is known for its software capability, automotive electronics remains a relatively nascent segment. Many Indian auto original equipment manufacturers (OEMs) have had to rely on foreign suppliers for their critical compute components. 

 

Peeyush Asati, chief executive officer of Vecmocon Technologies, said this latest funding round would enable Vecmocon to further its research and development (R&D) in high-voltage systems, energy storage systems (ESS), develop zonal ECU-compliant architectures, advance 5G automotive connectivity solutions, and expand its team. He added that part of the capital will also be directed towards establishing international-standard R&D infrastructure for the electric automotive sector. 

 

Devin Whatley, managing partner at EIF, stated that Vecmocon is well-positioned to capitalise on the growing adoption of electric vehicles (EVs) in India and lead the EV intelligence movement in the country. He noted that the firm offers a competitive edge by enabling quicker time to market, as well as higher overall performance and safety. 

 

Arpit Agarwal, partner at Blume Ventures, added: “What stands out is how they’ve built a complete ecosystem—bringing together smart software, data insights, and financial solutions.”