Vecmocon To Raise $8.7 Mn From Aavishkaar Capital, Others

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SUMMARY

Vecmocon Technologies is set to raise INR 74 Cr (around $8.7 Mn) in a funding round led by Aavishkaar Capital and existing backers Ecosystem Integrity Fund (EIF) and Blume Ventures

Vecmocon will raise INR 50.4 Cr by issuing new shares, according to its regulatory filings

On the secondary side, early investor Tessellate Tech Ventures is exiting fully, selling its 2.97% stake for INR 15.85 Cr. Notably, Tessellate originally invested INR 1.5 Cr, making a return of over 10X.

EV intelligence startup Vecmocon Technologies



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Vecmocon To Raise $8.7 Mn From Aavishkaar Capital, Others


SUMMARY

Vecmocon Technologies is set to raise INR 74 Cr (around $8.7 Mn) in a funding round led by Aavishkaar Capital and existing backers Ecosystem Integrity Fund (EIF) and Blume Ventures

Vecmocon will raise INR 50.4 Cr by issuing new shares, according to its regulatory filings

On the secondary side, early investor Tessellate Tech Ventures is exiting fully, selling its 2.97% stake for INR 15.85 Cr. Notably, Tessellate originally invested INR 1.5 Cr, making a return of over 10X.

EV intelligence startup Vecmocon Technologies



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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