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EV financing and vehicle lifecycle management platform Vidyut on Tuesday said it has raised $10 million in a Series A round led by 3one4 Capital.
Vidyut, founded in 2021, did not disclose the company's valuation at which the capital was raised or the exact mix of equity and debt in the funding. The EV financing startup mainly caters to electric three-wheeled vehicle fleet owners by providing them with financing and ownership.
On World EV Day, we aim to explore the existing challenges and market opportunities in the EV financing ecosystem
Vidyuttech's unique pay-per-km battery lease and attractive interest rate of approximately 10% is designed to facilitate the adoption of Electric 3-wheelers, making them an affordable and sustainable choice for customers.
Udaan cofounder Sujeet Kumar, Delhivery cofounder and CEO Sahil Barua, CRED’s Kunal Shah were a few major participants in Vidyut's seed round