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

EntrackrEntrackr · 7m 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.

TrusTerra bags $1 Mn in pre-seed round co-led by Finvolve & India Accelerator

EntrackrEntrackr · 1m ago
TrusTerra bags $1 Mn in pre-seed round co-led by Finvolve & India Accelerator
Medial

TrusTerra, an AI-backed marketplace for used electric vehicles (EVs), has raised Rs 9 crore in a pre-seed funding round co-led by Finvolve and India Accelerator, with co-investment from GrowthCap Ventures and participation from strategic angels including Shishir Maheswari, Samrath Jit Singh, Ayush Lohia, Kapil Nirmal and other investors. The proceeds will be deployed to scale TruEV Score, expand its web and mobile marketplace across India’s top EV adoption cities and into Tier-2 markets, strengthen partnerships with OEMs, NBFCs, banks, and dealers, and invest in senior technology, operations, and business development hires. Launched this year by Tanvir Singh, Saurabh Arora, Madhu Reddy, and Chanakya Agarwal, TrusTerra is an AI-driven marketplace for pre-owned electric vehicles, offering solutions such as TruEV Score™, TerraCash™, and TerraBid™ to bring transparency, trust, and liquidity to India’s fast-growing EV market. The platform aims to build the resale backbone of India’s EV revolution. “With our TruEV Score™ and instant-sell marketplace, TrusTerra is unlocking trust and liquidity in India’s pre-owned EV market,” said Tanvir Singh, co-founder & CEO, TrusTerra. Since inception, TrusTerra claims to have onboarded over 150 dealers, evaluated more than 2,000 used EVs for resale, and facilitated transactions worth over Rs 3 crore. Its TruEV Score™ is already being piloted with OEMs, NBFCs, and fleet operators, generating strong interest from lenders and manufacturers. The Delhi-based startup aims to certify 20,000 used EVs across over 20 cities, expanding its presence through its web and mobile marketplace that enables customers, dealers, and financiers to trade used EVs with verified battery scores and instant financing.

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