Vidyut Bags $2.5 Mn To Expand Its BaaS Offerings For Passenger, Commercial EV Segments

Vidyut Bags $2.5 Mn To Expand Its BaaS Offerings For Passenger, Commercial EV Segments

Electric vehicle financing startup Vidyut has raised a fresh funding of $2.5 Mn (around INR 21.7 Cr) from Flourish Ventures. The company plans to deploy the fresh proceeds to expand its battery-as-a-service (BaaS) offerings for passenger and commercial EV segments. Speaking to Inc42, Vidyut cofounder Xitij Kothi said that after its recent partnership with MG Motors and foraying into new vehicle categories, the startup now aims to strengthen its …

Vidyut raises $2.5 Mn to expand battery-as-a-service financing biz

Full-stack electric vehicle ecosystem platform Vidyut has raised $2.5 million in funding from global fintech investor Flourish Ventures. To date, Vidyut has raised over $16.5 million from 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other prominent investors. The firm concluded its $10 million Series A round in February last year. The funding will fuel the expansion of Vidyut's battery-as-a-service (Baa…