Fabric and subsidiary Intellicar Raise $13.5 Mn In Series A Round

Fabric and its subsidiary Intellicar have raised $13.5 million in a Series A funding round led by asset management firm Nuveen.

The fresh funds will help Fabric grow its advanced data and energy solutions, which are key to supporting India’s fast‑expanding electric vehicle market.

This round is Nuveen Private Equity Impact’s fifth deal under its second climate inclusion strategy, following recent investments in Longevity Partners, CleanPlanet and Onepak.

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“This sizable investment will enable us to accelerate the development of the next generation of our technology, opening up newer markets and also deepen our market leadership in the mobility ecosystem within India while empowering millions to embrace sustainable transportation. This partnership marks the start of an exciting journey toward a cleaner, greener, and more electrified world,” said Karan Makhija, Co-Founder and CEO, Fabric.

“India’s path to a greener economy and lower CO2 emissions must tackle its reliance on traditional automobiles. Fabric’s rapidly deployable data and energy stack is a crucial part of that solution in driving the widespread adoption of EVs,” said Ted Maa, Managing Director, Private Equity Impact at Nuveen.

About Fabric 

The Bengaluru-based Fabric was founded in 2022 by Karan Makhija and Shunmuga Krishnan Senthil Arumugam, Fabric and its subsidiary Intellicar create advanced technologies that help electric vehicle (EV) companies handle energy and data smoothly. 

Intellicar connects over 300,000 EVs and leads in IoT and data services, while Fabric focuses on energy and AI solutions.

Fabric says its all-in-one approach makes EV operations more efficient at scale. Its easy-to-deploy data and energy platform is key to meeting growing market needs and speeding up EV adoption.

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