New Delhi-based sustainability and clean mobility startup Vecmocon has raised $18 million (~₹1.54 billion) in a Series A funding round from Ecosystem Integrity Fund, Aavishkaar Capital, and the U.K.’s development finance institution, British International Investment.

The investment round also saw participation from existing investor, Blume Ventures.

This funding will be used to support the company’s plans to expand market presence and enable its solutions to power over 100,000 vehicles on Indian roads.  It will also utilize the funding to advance capabilities in embedded design, power electronics, the Internet of Things, and data science.

A portion of the funding supports team expansion and the establishment of research and development infrastructure for the electric vehicle (EV) sector.

Vecmocon is a full-stack, deep-tech firm developing safety-critical electronic and software platforms for EVs.

Its offerings include battery management systems, intelligent chargers, vehicle intelligence modules, motor controllers, and cloud-based analytics. The services provide performance, reliability, and data-driven insights for EV original equipment manufacturers (OEMs), fleet operators, and financial institutions.

Vecmocon also plans to become a key supplier for EV OEMs and ecosystem players in India and other emerging markets.

In 2024, EV sales in India reached a record 1.95 million units, an over 27% growth year-over-year against the 1.53 million units sold in 2023, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard. EVs accounted for 3.6% of overall automobile sales.

In September last year, the Union Cabinet approved the ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Program.’ The PM E-DRIVE Program, with a total outlay of ₹109 billion (~$1.29 billion), focuses on providing demand incentives, deploying EVs, and developing charging infrastructure to support wider EV adoption.

In March 2025, to encourage the domestic manufacture of EVs, the Ministry of Heavy Industries mandated a 100% domestic content requirement for 18 electric vehicle components under the two-wheeler, three-wheeler, and e-bus segments to be eligible for a subsidy under the PM E-Drive program.