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Fabric and subsidiary Intellicar raise $13.5 Mn in Series A funding from Nuveen

EntrackrEntrackr · 4m ago
Fabric and subsidiary Intellicar raise $13.5 Mn in Series A funding from Nuveen
Medial

Fabric and its subsidiary Intellicar have raised $13.5 million in a Series A funding round led by Nuveen. This is the fifth investment on behalf of Nuveen’s second climate inclusion strategy, which recently announced similar partnerships with CleanPlanet, Longevity Partners, and Onepak. The fresh funding will be used to scale its cutting-edge data and energy solutions. Co-founded in 2022 by Karan Makhija and Shunmuga Krishnan Senthil Arumugam, Fabric and its subsidiary Intellicar build cutting-edge technologies that empower the EV ecosystem to manage energy and data seamlessly. With over 300,000 connected EV assets, Intellicar leads in EV IoT and data solutions, while Fabric expands its energy and AI portfolio. Fabric says that its integrated approach unlocks new efficiencies for EV businesses at scale. It aims to continue to deepen its role in addressing the evolving needs of data and energy markets, with its rapidly deployable data and energy stack being a crucial part of driving the widespread adoption of EVs. According to market research, road transport currently accounts for 12% of India’s energy-related CO2 emissions. The Bengaluru-based company delivers data solutions for the EV and automotive industry through Intellicar, which currently serves over 300,000 EVs, enabling the adoption of technology across the entire EV value chain. The company aspires to enable individuals and businesses to embrace sustainable transportation and contribute to a cleaner, more energy-independent India.

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Related News

Fabric supply chain startup Fabriclore raises $1.6 Mn

EntrackrEntrackr · 1y ago
Fabric supply chain startup Fabriclore raises $1.6 Mn
Medial

Fabriclore, a tech-enabled fabric sourcing platform for fashion businesses, has raised $1.6 million in a new round led by PeerCapital and Regal Fabrics. With this funding, Fabriclore plans to expand its presence in key markets, including India, the Middle East, Europe, and the USA. According to the company, it will invest in technology to further streamline its operations, enhance customer experience, and scale in international markets. Founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore provides, made-to-order fabric solutions including fabric discovery, design, dyeing, printing, and quality inspection all at a single point of contact at lower MoQs to D2C fashion brands and multi brand retailers. From 2016 until 2022, Fabriclore created a modern retail brand, with a catalogue of 10,000 SKUs developed by over 550 suppliers across India. The company pivoted to enter into India’s $20 billion fabric supply chain market in 2023. Within 12 months of its B2B pivot, it claims to have boarded over 200 private labels primarily from India and the Middle East. The firm operates a 10,000-square-foot warehouse with an in-house quality inspection unit and has also forged partnerships with internationally accredited testing labs to provide certificates for specific tests required by clients. Fabriclore has also created Fabric Experience Studio in Jaipur, which offers a hands-on touch-and-feel experience of a vast portfolio of fabrics sourced from 50 mills. It plans to open more such experience studios in tier A cities in India and in UAE.

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