Total amount raised
$16.4 Millions
Latest funding date
02/01/2025
Location
Vidyut has successfully raised $2.5 million in its latest funding round, backed by investors such as Flourish Ventures and Alteria Capital. The company specializes in providing flexible financing solutions and assured resale options for small commercial electric vehicles.
Keep reading to explore the intricacies of Vidyut's fundraising journey and the investors backing this innovative platform.
What Is Vidyut?
Vidyut, founded in 2021, is based in Bangalore, Karnataka, India. The company operates in the automotive, electric vehicle, and financial services industries. It was founded by Gaurav Srivastava and Xitij Kothi.
With an employee count ranging from 101 to 250, Vidyut specializes in providing flexible financing solutions and assured resale options for small commercial electric vehicles. The company aims to support the entire ownership journey of electric vehicles, from distribution and financing to after-sales and resale.
How Much Funding Has Vidyut Raised?
- Seed Round
- Amount Raised: ₹320M (approximately $4M)
- Date: December 2022
- Lead Investors: Force Ventures, Shastra VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and market entry of Vidyut's financing solutions for small commercial electric vehicles.
- Series A
- Amount Raised: $10M
- Date: February 2024
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach, leveraging proven unit economics and strong month-on-month growth.
- Venture Round
- Amount Raised: $2.5M
- Date: February 2025
- Lead Investors: Flourish Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Vidyut's Battery-as-a-Service offerings in both passenger and commercial EV segments, making EV ownership accessible and affordable for SMBs.
Total Amount Raised: $16.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Flourish Ventures
- Details: Flourish Ventures is a global fintech investor focused on financial inclusion and economic opportunity. They manage around $850 million in assets.
- Investment Focus Areas: Financial services, Fintech, Social impact
- Notable Investments: Chime, Aspiration, Grab Financial Group
- 3one4 Capital
- Details: 3one4 Capital is a venture capital firm that invests in early-stage companies. They led a $10 million funding round for Vidyut in February 2024.
- Investment Focus Areas: Early-stage technology, SaaS, Fintech
- Notable Investments: Licious, Darwinbox, Betterplace
- Force Ventures
- Details: Force Ventures is an investor focused on technology startups. They were a key investor in Vidyut's seed round.
- Investment Focus Areas: Technology startups, SaaS, Consumer internet
- Notable Investments: Not specified
- Shastra VC
- Details: Shastra VC focuses on early-stage technology companies. They were a key investor in Vidyut's seed round.
- Investment Focus Areas: Early-stage technology, Deep tech, AI
- Notable Investments: Not specified
- Zephyr Peacock
- Details: Zephyr Peacock is a private equity firm that invests in small and medium-sized enterprises in India. They have been involved in Vidyut's funding rounds.
- Investment Focus Areas: Small and medium-sized enterprises in India
- Notable Investments: Not specified
What's Next for Vidyut?
Vidyut is poised to capitalize on the burgeoning electric vehicle market by expanding its Battery-as-a-Service (BaaS) offerings across both passenger and commercial segments. This innovative model, which reduces upfront costs and addresses battery life concerns, is set to make EV ownership more accessible and affordable, particularly for small and medium-sized businesses. Partnerships with major automotive companies like JSW MG Motor India and Tata Motors further bolster Vidyut's growth prospects.
As the demand for sustainable solutions continues to rise, Vidyut is well-positioned to attract additional investments. The company's proven track record and strategic partnerships suggest a strong potential for future fundraising rounds. However, challenges such as managing battery degradation risk and competing with traditional finance models remain. Navigating these hurdles will be crucial for Vidyut as it scales its operations and maintains quality across new vehicle segments.
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