Full-stack electric vehicle ecosystem platform Vidyut has raised $2.5 million in financing from worldwide fintech financial specialist Flourish Ventures.

To date, Vidyut has raised over $16.5 million from 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other conspicuous financial specialists. The firm concluded its $10 million Arrangement A circular in February final year.

The financing will fuel the development of Vidyut's battery-as-a-service (BaaS) offerings in both traveler and commercial EV portions. This speculation strengthens Vidyut's mission to quicken India's clean vitality move by making EV ownership available and reasonable for SMBs, the company said in a press release.

Established in 2021 by ex-Swiggy and Bounce officials Xitij Kothi and Gaurav Srivastava, Vidyut revolutionized commercial EV financing. By unbundling batteries from EVs and advertising them on a pay-per-km membership basis, Vidyut decreased forthright three-wheeler (3W) EV costs by 35-40%, making them altogether cheaper than ICE vehicles from day one.

In 2023, Vidyut extended its offerings to incorporate EV resale and lifecycle administration arrangements, a move that has seen rapid customer appropriation and advertise footing. In September 2024, the company entered the passenger EV market through an association with JSW MG Motor India, stamping India's to begin with BaaS show for four-wheelers that cuts upfront vehicle costs by 30%.

With key industry accomplices such as TATA Motors, JSW, MG Motor India, Mahindra Last Mile Mobility, Piaggio, and Euler Motors, at the side a solid dissemination organize crossing 30 cities, Vidyut has empowered micro-entrepreneurs and armada administrators to grasp maintainable choices whereas boosting their profit by 10-15% through EV appropriation.

"With demonstrated unit financial matters, solid 15% month-on-month development, and long-term OEM organizations, this venture will offer assistance us scale our inventive financing and lifecycle arrangements over new vehicle fragments," said Xitij Kothi.

The Bengaluru-based company too propelled an EV resale platform for the three-wheeler commercial vehicle fragment, which oversees the whole process—from review and valuation to deal and RTO documentation. Agreeing to the company, this unused stage has streamlined the resale prepare for commercial EV proprietors and has made a difference customers realize up to 10-15% higher returns than ICE counterparts in auxiliary markets.

Within the electric vehicle financing space, Vidyut competes with  Revfin, Finayo, Mufin Green Fund, OTO, Evfin, and Hero FinCorp, among others.