VC Fund Investments
EV financier Vidyut raises $4-M from Force Ventures, Veda VC, Others
Vidyut (VT), a Bengaluru-based platform for electric vehicle financing and lifecycle management, has raised USD 4 million in a mix of equity and debt in a round led by Force Ventures and Veda VC. Sujeet Kumar, co-founder of Udaan, Sahil Barua co-founder and CEO of Delhivery, Kunal Shah, co-founder of CRED, Swiggy co-founder Sriharsha Majety and Lohum founder Rajat Verma also participated in the seed round. Founded in 2021 by Kothi and Gaurav Srivastava, Vidyut aims to make commercial EV ownership affordable, and a risk-free proposition for customers through its ownership plans. Vidyut has thus far concentrated on Bengaluru and Delhi. With the new funding, the firm is looking to expand to Chennai, Hyderabad, and Pune. It will also double the headcount in its credit, engineering and sales teams.
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