This follows an initial $10 million raised in November 2024, also led by EIF and supported by British International Investment (BII) and existing investor Blume Ventures. Blume has backed Vecmocon since its pre-Series A stage.
The startup said that the fresh investment will be used to expand its market presence, focus on advancing capabilities in embedded design, power electronics, IoT, and data science and enabling its solutions to power more than 1 lakh vehicles on roads, it said.
Additionally, the funding will also support team expansion and the establishment of R&D infrastructure for the electric-automotive sector, while fuelling the company’s global ambitions.
Founded in 2016 and incubated at IIT Delhi, Vecmocon Technologies, Vecmocon designs and manufactures advanced Battery Management Systems (BMS), Smart Chargers, Vehicle Intelligence Modules (VIMs), secure OTA infrastructure, and AI-native analytics. The company partners with OEMs, fleet operators, and infrastructure providers for EV deployments.
“This infusion of capital allows us to double down on innovation. We’re building next-generation platforms for connected EVs and energy storage—entirely designed and manufactured in India. Our mission is to play a critical role in the global transition to clean mobility,” said Peeyush Asati, CEO and Co-Founder of Vecmocon.
The company said it aims to integrate intelligent systems and data-driven insights into every EV, making them more responsive, adaptive, and efficient.
According to Vecmocon, which develops deep-tech EV intelligence systems entirely in India, India’s national schemes like Make in India, FAME-II, and the Production Linked Incentive (PLI) initiative under PM-eDrive can provide multiple advantages:
Make in India: Boosting Local Manufacturing & Global Competitiveness
- Incentive for Indigenous Development: Encourages companies like Vecmocon to design, develop, and manufacture EV components locally—aligning with their full-stack, India-first approach.
- Export Opportunities: Supports companies in becoming globally competitive, helping Vecmocon tap into international EV markets with high-quality, locally produced tech.
- Infrastructure & Policy Support: Facilitates smoother regulatory pathways and access to government-supported industrial infrastructure.
However, even though FAME-II has concluded, here’s how it still plays a relevant role for Vecmocon, along with what comes next:
- Market Momentum: FAME-II significantly accelerated EV adoption in India, creating long-term demand for components like Vecmocon’s BMS, smart chargers, and vehicle intelligence systems.
- OEM Relationships: The scheme pushed many Indian OEMs to localise supply chains. Vecmocon, already aligned with localisation goals, likely built key partnerships during this period—relationships that will outlive the scheme.
- Product-Market Fit: The technical and cost-performance benchmarks shaped by FAME-II still guide the industry today, and Vecmocon is already optimized for these standards.
Production Linked Incentive (PLI) – Auto & ACC Battery Schemes (PM-eDrive)
- Performance-Based Financial Incentives: Vecmocon can benefit from PLI incentives for meeting production and sales targets of EV components and advanced electronics.
- Support for R&D and Scaling: Helps the company expand manufacturing capacity and invest in next-gen technologies like zonal ECUs, 5G V2X, and secure OTA updates.
- Battery Ecosystem Alignment: The Advanced Chemistry Cell (ACC) battery PLI scheme supports players in the battery value chain, which complements Vecmocon’s BMS and energy storage focus.
The firm said it is currently powering over 100,000 EVs—including two- and three-wheelers and light commercial vehicles. Vecmocon is now expanding into high-voltage EVs like electric cars, buses, trucks, and energy storage systems.
It also plans to add advanced features such as zonal ECUs, 5G-based vehicle communication, secure system booting, and strong cybersecurity to meet global standards.
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