A round co-led by Force Ventures, Veda VC, and a number of strategic clean energy angel investors secured $4 million for Vidyut Tech (VT), a platform for EV finance and vehicle lifecycle management.
Sujeet Kumar (Udaan), Sahil Barua (Delhivery), Kunal Shah (CRED), Sriharsha Majety (Swiggy), and Rajat Verma (Lohum) also took part in the round, as per reported by Entrepreneur.com.
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“The lifecycle and the ownership journey of an electric ride are very different from those of an ICE vehicle. The market needs financing solutions tailored for EVs. At Vidyut, we are leveraging EV tech, with support from our OEM partners, to build a technology stack that fundamentally changes the ownership experience. We are excited to have marquee investors, who understand these nuances, join us in our journey,” said Xitij Kothi, co-founder, Vidyut.
Founded in 2021 by Xitij Kothi and Gaurav Srivastava, Vidyut Tech is an EV-tailored platform with the goal to make ownership of electric vehicle simple & stress free.
“In a short period, Vidyut has demonstrated a strong user value proposition and product- market fit, both on the side of customers buying vehicles as well as financial services stakeholders, who depend on the platform’s proprietary models and technology solutions. We are excited by the team’s execution and their long-term orientation as they build the platform of choice for India’s EV ecosystem,” said Karthik Bhat, a partner at Force Ventures.
About Vidyut Tech
Vidyut Tech, with headquarters in Bengaluru, is an electric vehicle (EV) tailored platform that provides its clients with a complete end-to-end solution for purchase, financing, and resale.
