# VidyutTech Services Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vidyuttech-services-private

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.vidyuttech.com
- Total disclosed funding: $10M
- Latest round: Series A (Dec 26, 2024)
- Investors on record: 14

## About

Based in Karnataka, India, and founded in 2021 by co-founders Xitij Kothi and Gaurav Srivastava, VidyutTech Services Private Limited operates as an electric vehicle (EV) ecosystem company that focuses on providing battery subscription ownership plans powered by proprietary asset-underwriting algorithms and establishes ownership solutions for brands such as Mahindra, Piaggio, Altigreen, Murugappa Group’s Montra Electric, Euler Motors, and OSM vehicles. In February 2025, VidyutTech Services Private Limited raised INR 210 million in venture funding from new investor Flourish Ventures. VidyutTech offers a range of electric three-wheelers from various manufacturers, including Mahindra, Piaggio, Euler, Altigreen, Montra, and Greaves. The company’s product lineup includes various models such as the Mahindra Zor, Piaggio E City, and Euler HiLoad, each designed for different commercial and personal transportation needs. The company plans to use its proceeds from February 2025 funding to increase the range of battery-as-a-service products it offers for the commercial and passenger EV markets.

## Funding rounds

- Series A, Dec 26, 2024, $2.6M — Alteria Capital, Flourish Ventures, Lighthouse Canton
- Series A, Feb 9, 2024, $1.1M — Zephyr Management, LVX, AL trust
- Series A, Jan 29, 2024, $3.7M — 3one4Capital Advisors, LVX, Saison Capital
- Seed, Mar 31, 2023, $1.6M — LVX, AL trust, Zephyr Peacock India
- Seed, Feb 14, 2022, $1.1M — LVX, Force Ventures, QED Innovation Labs, Shastra VC, VRM Ventures, AL trust, Aar Em Ventures LLP

## Investors

- LVX (https://capitalatlas.ai/funds/lvx) — Seed, Series A
- Force Ventures (https://capitalatlas.ai/funds/force-ventures) — Seed
- QED Innovation Labs — Seed
- Shastra VC (https://capitalatlas.ai/funds/shastra-vc) — Seed
- VRM Ventures — Seed
- AL trust — Seed, Series A
- Aar Em Ventures LLP — Seed
- Zephyr Peacock India — Seed
- 3one4Capital Advisors (https://capitalatlas.ai/funds/3one4capital-advisors) — Series A
- Saison Capital (https://capitalatlas.ai/funds/saison-capital) — Series A
- Zephyr Management (https://capitalatlas.ai/funds/zephyr-management) — Series A
- Alteria Capital (https://capitalatlas.ai/funds/alteria-capital) — Series A
- Flourish Ventures (https://capitalatlas.ai/funds/flourish-ventures) — Series A
- Lighthouse Canton (https://capitalatlas.ai/funds/lighthouse-canton) — Series A