Vecmocon, an electric vehicles (EV) solutions company, has raised $5.2 million in funding from Tiger Global, Blume Ventures and other investors.
The company will use the funds for business expansion, scaling up operations, and product innovation. “EV mass adoption is not a product story but an ecosystem story. Robustness, reliability, and service are at the core of this story which we at Vecmocon are building. We plan to utilize this fundraise to invest primarily in team and tech,” said Peeyush Asati, Vecmocon’s co-founder and chief executive officer (CEO).
The company said in a statement it will empower EV original equipment manufacturers (OEMs) and others with the latest technology and reliable components.
