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Vecmocon Secures $10 Million in Funding Led by Ecosystem Integrity Fund!

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Electric vehicle (EV) components manufacturer Vecmocon has successfully raised $10 million in a funding round led by the Ecosystem Integrity Fund (EIF). This round also saw participation from existing investor Blume Ventures and British International Investment (BII). The newly raised capital will fuel Vecmocon’s efforts to strengthen its presence across diverse market segments such as electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses.

Focus on Advanced EV Solutions

Founded in 2016 by Peeyush Asati, Adarshkumar Balaraman, and Shivam Wankhede, Vecmocon specializes in developing safety-critical components for EVs. These include:

  • Battery Management Systems (BMS)
  • EV Chargers
  • Vehicle Intelligence Modules (VIM)
  • Secure Firmware-Over-The-Air (FOTA) Solutions

The startup is committed to addressing the needs of the rapidly growing EV market. Asati noted, “EVs are becoming increasingly viable economically and environmentally, particularly due to declining battery costs, which have significantly reduced vehicle prices. The commercial vehicle segment has especially embraced EVs, thanks to their lower operational costs.”

R&D and Technological Advancements

The funding will be allocated to research and development (R&D), talent acquisition, and collaborations with larger Original Equipment Manufacturers (OEMs) to address a variety of use cases. Specifically, Vecmocon aims to enhance its capabilities in high-voltage systems and energy storage solutions while developing zonal ECU-compliant architectures and advancing 5G automotive connectivity solutions.

Expanding Global Footprint

Vecmocon, incubated at IIT Delhi, operates in key Indian cities including Delhi, Bangalore, Chennai, and Lucknow. The company has a notable clientele that includes Exide, BGauss, and Battery Smart. With existing customers in Sri Lanka, Vecmocon plans to explore opportunities in Southeast Asia and African markets to broaden its international reach.

Previous Funding Rounds

This latest funding round follows a previous investment of $5.2 million in 2022 from Tiger Global and Blume Ventures, marking a significant step in the company’s journey toward becoming a global leader in EV intelligence solutions.

Strategic Backing and Industry Validation

Highlighting the investment, Devin Whatley, Managing Partner at EIF, stated, “Vecmocon is well-positioned to leverage the growing adoption of EVs in India. Their solutions provide a competitive edge by ensuring quicker time-to-market and superior performance and safety for their customers.”

Arpit Agarwal, Partner at Blume Ventures, added, “Vecmocon’s agility and ability to adapt to market demands are impressive. Their rapid expansion through major industry partnerships underscores their leadership in vehicle intelligence.”

A Bright Future Ahead

With this funding, Vecmocon is poised to strengthen its role in India’s evolving EV ecosystem by offering cutting-edge solutions for safety, performance, and market adaptability. The company’s commitment to innovation and strategic partnerships positions it well for future growth.

Market Dynamics

As the demand for electric vehicles continues to rise globally, Vecmocon’s focus on developing advanced components will be crucial for meeting the needs of manufacturers looking to enhance their offerings. The ongoing transition towards sustainable transportation presents significant opportunities for companies like Vecmocon that are dedicated to advancing EV technology.

Conclusion

Vecmocon’s successful funding round not only highlights investor confidence in its business model but also reinforces its commitment to being at the forefront of the electric vehicle revolution. With plans for expansion into new markets and continuous innovation in product development, Vecmocon is well-equipped to capitalize on the growing demand for electric vehicles both domestically and internationally. As it moves forward with its strategic initiatives, Vecmocon aims to play a pivotal role in shaping the future of intelligent mobility solutions.

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Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

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Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

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Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

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Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

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Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

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Pine Labs

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Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

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