Vecmocon, a leading player in vehicle intelligence, has successfully raised $10 million in a funding round led by Ecosystem Integrity Fund (EIF), with additional participation from Blume Ventures and British International Investment (BII). The funds will be used to broaden the company’s presence across various sectors, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses.
In 2022, Vecmocon raised $5.2 million during its pre-series A round, with backing from Tiger Global and Blume Ventures. The company is already working with major clients such as Exide, BGauss, and Battery Smart. Vecmocon has developed extensive expertise in embedded design, power electronics, IoT, and data science, powering over 70,000 vehicles on Indian roads.
Peeyush Asati, CEO of Vecmocon Technologies, shared that this latest round of funding will accelerate R&D efforts in areas such as high-voltage systems, energy storage solutions (ESS), Zonal ECU-compliant architectures, and 5G automotive connectivity. The capital will also support the expansion of the company’s team and the establishment of state-of-the-art R&D facilities for the electric-automotive sector. Vecmocon is also expanding into international markets, with plans to enter Sri Lanka and continue its exploration of opportunities in Southeast Asia and Africa.
Vecmocon is an innovative vehicle intelligence company founded in 2016 at IIT Delhi by Peeyush Asati, Adarshkumar Balaraman, and Shivam Wankhede. The company specializes in providing advanced computing solutions for electric vehicles (EVs), including battery management systems (BMS), vehicle intelligence modules (VIM), and EV chargers. With a strong focus on embedded design, power electronics, IoT, and data science, its’s technology powers over 70,000 vehicles on Indian roads, serving prominent clients such as Exide, BGauss, and Battery Smart.
The company is actively expanding its presence across electric two-wheelers, three-wheelers, light commercial vehicles, and buses. Vecmocon is also exploring international markets, including Sri Lanka, Southeast Asia, and Africa, as it aims to create world-class EV solutions that cater to the global automotive market.
