Liquidity Events
ABB E-mobility acquires controlling stake in EV-charging solutions player Numocity
ABB's E-mobility division has acquired a controlling stake in Bengaluru-based Numocity, a digital platform working on electric vehicle charging solutions. The transaction marks the first acquisition by a global company in the Indian EV space. With this acquisition, VC investors in Numocity - Ideaspring Capital and Rebright Partners - have exited the company. Numocity provides solutions to monetise energy delivery to electric vehicles – charging and battery swap infrastructure. It works with major oil and gas companies, utilities, charge point operators and auto OEMs to offer digital platforms enabling infrastructure management, intelligent business operations and professional user experience.
From the Venture Intelligence PE-VC Deal Database: In Dec-19, Ideaspring Capital had led an about USD 1 million investment in Numocity with participation from Rebright Partners and ABB Technology Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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