Indian startups operating in the light electric mobility space have bucked the overall fundraising slowdown trend as risk capital investors place their bets on the growth prospects of the nascent but fast-growing sector.
The segment, which covers electric two- and three-wheeler makers, battery manufacturers and EV charging startups, has already racked up about $482 million from private equity and venture capital investors in the first half of this year (Jan-June period), registering a multi-fold jump in funding over the corresponding period last year when startups had merely fetched $63 million, according to proprietary data compiled by DealStreetAsia.