Vecmocon, a startup building solutions for electric vehicles, has raised $5.2 million in funding from Tiger Global, Blume Ventures and prominent strategic angels. Separately, health and fitness SaaS platform FitBudd has raised $3.4 million in a seed round from Accel India, Sequoia Capital India, Beenext, and Waveform Ventures.
Vecmocon raises $5.2m from Tiger Global, Blume Ventures
Electric vehicle solutions builder Vecmocon on Wednesday said it has raised $5.2 million in funding from Tiger Global, Blume Ventures and prominent strategic angel investors.
The company aims to invest the funds in team building, business expansion, scaling up of operations and product innovation. The company’s products and solutions include battery management systems, vehicle intelligence, EV chargers, motor controllers, and remote fleet management systems. The startup sells its EV components and software to OEMs.
Vecmocon was founded in 2016 by Peeyush Asati, Adarshkumar B, and Shivam Wankhede. The startup was incubated at IIT Delhi and the Indian School of Business (ISB) and had raised $300,000 in 2019 from Tessellate Tech Ventures.
FitBudd bags $3.4m from Accel, Sequoia
FitBudd, an Indian health and fitness SaaS platform, has raised $3.4 million in seed funding from Accel India, Sequoia Capital India, Beenext, and Waveform Ventures, the company’s co-founder and CEO Saumya Mittal told Entrackr.
FitBudd was part of Accel India’s first cohort of the Atoms accelerator programme in February this year. Launched in August 2021, the accelerator programme makes pre-seed funding of up to $250,000 in startups but does not take any stake.
The startup will use the fresh funds towards product development with a focus on coaches on the platform, the report said. Health and fitness coaches use FitBudd to deliver personalised coaching to users.
“While personal coaching has been established as a proven method for long-term fitness, it has been inaccessible for the vast majority of the population due to cost. With FitBudd, we aim to democratise personal coaching by making it available at 1/5th the cost,” Mittal told Entrackr.
FitBudd’s peers in India include the Khosla Ventures-backed HealthifyMe.