Vidyut, a full-stack electrical car ecosystem platform based mostly out of Bengaluru, has raised $2.5 million (₹21 crore roughly) in funding from world fintech investor Flourish Ventures. The funding will gasoline the growth of Vidyut’s battery-as-a-service choices in each passenger and business EV segments.
“With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments,” stated Xitij Kothi, co-founder, Vidyut.
“Vidyut has solved one of EV financing’s biggest challenges — battery degradation risk. By analyzing real-time performance data across state of health, discharge patterns, and usage metrics, we accurately predict battery life and value. This data-driven approach enables us to offer usage-based financing that aligns with actual asset performance, making EVs both affordable and financially viable for businesses in a way traditional finance cannot replicate. We’re excited to partner with Flourish Ventures to make EVs accessible and profitable for businesses nationwide.”
Unique providing
Vidyut was based in 2021 by ex-Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava. By unbundling batteries from EVs and providing them on a pay-per-km subscription foundation, Vidyut lowered upfront 3W EV prices by 35-40%, making them considerably cheaper than ICE autos.
‘By analysing real-time performance data across state of health, discharge patterns, and usage metrics, we accurately predict battery life and value,’ says Xitij Kothi, co-founder, Vidyut.
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“We at Flourish Ventures believe that finance will have a key role in enabling actions towards climate change. As the economy transitions to sustainable solutions like electric vehicles, access to credit will play a key role in adoption in India,” stated Harsh Gupta, Principal, Flourish Ventures.
“With its unique battery-as-a-service offering, Vidyut provides innovative financial solutions that help users reduce their upfront costs while addressing common concerns around battery life and replacement costs. We are continually impressed by the team and the growth they have demonstrated, and we look forward to their continued impact in accelerating the transition to climate-friendly solutions.”
In 2023, Vidyut expanded its providing to embrace EV resale and lifecycle administration options. In September 2024, the corporate entered the passenger EV market by means of a partnership with JSW MG Motor India, marking India’s first BaaS mannequin for four-wheelers that cuts upfront car prices by 30%.
With key trade companions like TATA Motors, JSW MG Motor India, Mahindra Last Mile Mobility, Piaggio, Euler Motors, and a distribution community throughout 30 cities, Vidyut has additionally helped micro-entrepreneurs and fleet operators enhance their earnings by 10-15% by means of EV adoption.
Resale platform
The start-up additionally launched an EV resale platform for the three-wheeler business car phase, which manages the complete course of—from inspection and valuation to sale and RTO documentation. This new platform has streamlined the resale course of for business EV house owners and has helped prospects realise upto 10-15% higher than ICE counterparts in secondary markets.
To date, Vidyut has raised $16.5 million (round ₹143 crore) in capital from traders together with 3one4 Capital Saison Capital, Zephyr Peacock, and Flourish Ventures.
Published – February 27, 2025 06:08 am IST
