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Exclusive: EV startup Qucev raises $15 Mn in Series B

EntrackrEntrackr · 4d ago
Exclusive: EV startup Qucev raises $15 Mn in Series B
Medial

Exclusive: EV startup Qucev raises $15 Mn in Series B Qucev has raised Rs 131.25 crore ($15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. Electric commercial vehicle startup Qucev has raised Rs 131.25 crore (approximately $15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. According to its regulatory filing with the Registrar of Companies (RoC) in September 2025, Qucev’s board issued 4,467,375 Series B compulsorily convertible preference shares at an issue price of Rs 293.8 per share to raise the said amount. Singularity AMC led the tranche with an investment of Rs 25.76 crore (nearly $3 million), followed by Lotus Family Trust, which put in Rs 18.5 crore. Anchorage Capital, Volrado Venture Partners, Param Capital, and S Gupta Family Investments each invested Rs 17.98 crore. The remaining amount was contributed by other investors, including angel investors Lakshay Singhal, Anubhav Gupta and company’s founder Naresh Rawal. According to Entrackr’s analysis, the company is currently valued at around Rs 538 crore or $61 million post-money. Founded in 2022 by Naresh Rawal, Qucev is a next-generation electric commercial vehicle company in partnership with China-based EV manufacturer BYD, designs and manufactures electric tractors, trucks, buses, and three-wheelers, focusing on sustainable and cost-effective mobility. Beyond manufacturing and sales, Qucev also offers financing, charging infrastructure, and fleet solutions. According to startup data intelligence platform TheKredible, Qucev has previously raised around $4 million from Singularity AMC, Barclays and Maa Creations. For the fiscal year ended March 2025, the company did not report any product sales and generated Rs 2.08 crore from the sale of services. During the same period, it recorded a loss of Rs 9.35 crore. Qucev competes with players like Euler Motors, Altigreen, as well as established names such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

Finfactor raises $15 Mn in Series A led by WestBridge

EntrackrEntrackr · 21d ago
Finfactor raises $15 Mn in Series A led by WestBridge
Medial

Finfactor raises $15 Mn in Series A led by WestBridge The Pune-based company had earlier raised $2.5 million in July 2022 from Varanium Nexgen Fund, IIFL, DMI Sparkle Fund, and others. Finfactor, the parent company of Finvu Account Aggregator, has raised $15 million in its Series A round led by WestBridge Capital, with participation from existing investors Varanium Capital, DMI Sparkle Fund, and IIFL Fintech Fund. According to the company, the new capital will be used to expand its product suite for financial institutions, enhance its analytics capabilities, and advance its goal of becoming a full-stack technology provider for banks and BFSI clients. Co-founded by Manoj Alandkar and Munish Bhatia, Finvu Account Aggregator enables secure data exchange for banks, insurers, stockbrokers, investment advisors, and other financial institutions and claims to have served more than 50 million consumers. Finfactor offers data analytics and artificial intelligence-driven solutions such as a multi AA gateway, bank statement analyser, loan monitoring and collections tools, and wealth management capabilities. It serves more than 150 BFSI clients including HDFC Bank, Axis Bank, Motilal Oswal, Canara Bank, and CRED, supported by a team of more than 120 professionals. WestBridge recently led the $40 million Series B round for credit infrastructure fintech FinBox. It has also backed enterprise AI platform UnifyApps, edtech firm SpeakX, and took part in a secondary transaction in Rapido to facilitate an exit for Swiggy.

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