Three Years After Buying Intellicar Parent Fabric IoT Raises $13.5 Mn

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SUMMARY

Intellicar Telematics’ parent entity Fabric IoT has raised $13.5 Mn (about INR 115 Cr) in its Series A funding round from American asset manager Nuveen

This marks the first fundraise for Fabric IoT, which was set up by Intellicar founders in 2022

Realising the large market opportunity that the ongoing EV disruption would provide, the cofounders of Intellicar reacquired Intellicar from TVS for INR 45 Cr, three times of the INR 15 Cr sell off in 2020

Deeptech startup Intellicar Telematics’ parent entity Fabric IoT…



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Three Years After Buying Intellicar Parent Fabric IoT Raises $13.5 Mn


SUMMARY

Intellicar Telematics’ parent entity Fabric IoT has raised $13.5 Mn (about INR 115 Cr) in its Series A funding round from American asset manager Nuveen

This marks the first fundraise for Fabric IoT, which was set up by Intellicar founders in 2022

Realising the large market opportunity that the ongoing EV disruption would provide, the cofounders of Intellicar reacquired Intellicar from TVS for INR 45 Cr, three times of the INR 15 Cr sell off in 2020

Deeptech startup Intellicar Telematics’ parent entity Fabric IoT…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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