VC Fund Investments
EV financing startup Vidyut raises $5~M in Series A
Bengaluru-based electric vehicle financing and vehicle lifecycle management platform Vidyut is set to raise USD 10 million in its Series A round.The company has already received USD 5 million after issuing 6,185 Series A CCPS at INR 64,690 per share.3one4Capital spearheaded the round with INR 22.2 crore while Zephyr Peacock India Fund and Saison Capital pumped in INR 7.1 crore and INR 8 crore respectively.LetsVenture, Angellist, and individual angels including Sujeet Kumar and Rajiv J Chaudhri cumulatively invested INR 2.7 crore.The company has been valued at around INR 148 crore or USD 18 million post-allotment.After the investment, 3one4Capital became the largest external stakeholder with 15% followed by Zephyr Peacock India Growth Fund and Saison Capital which command 13.96% and 5.41% respectively.The company had closed its seed round of USD 4 million in a mix of equity and debt led by Force Ventures, Veda VC, and a group of angles including Sujeet Kumar, Kunal Shah and Shriharsha Majety.Founded in 2021, Vidyut focuses primarily on serving commercial vehicle fleet owners. The company offers electric vehicle (EV) financing and ownership plans designed to mitigate the risks associated with owning a battery.
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