Capital A Launches $10M Fund To Support Indian EV Startups

- Advertisement -

The company is looking at tie-ups with academic institutions focusing on the EV sector and encourages entrepreneurship in the domain

Looking to support EV startups in India, venture fund Capital A has launched a $10 million (Rs 75 crore) cleantech fund ‘Evolve’ to back India startups operating in the EV ecosystem including– EV batteries, battery technology, battery-as-a-service and battery chargers.

“We are at the cusp of a mobility revolution in India. The high cost and low operating range of EVs kept them out of the mainstream in the past. However, with fast charging, lowering of costs, and battery swapping services, etc., the range anxiety and cost concerns will soon be eliminated.

- Advertisement -

What is needed now, is funding support to promising EV OEM start-ups and companies involved in building charging, battery management, and battery technologies segments. We have launched the fund after having developed an active thesis and forging industry partnerships that enabled us to gain deep insights into the Indian EV market, and we aim to back founders building impactful start-ups,” said Ankit Kedia, Founder at Capital A, which is a venture fund for seed to early-stage investments.

The company is looking at tie-ups with academic institutions focusing on the EV sector and encourages entrepreneurship in the domain.

The vision is to ensure that lack of working capital or mentoring does not deter promising EV tech start-ups from innovating and creating the next big breakthrough in electric mobility, it added.

This comes on the backdrop of the various steps that the government rolled out to drive India’s EV push.

The fund has been named ‘Evolve’ to narrate the story of the evolution of the Indian EV industry – from the conventional ICE to EV engines now.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Exclusive

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Important Sectors

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...