Electric mobility startups Raptee, Nikol EV and business-to-business (B2B) software-as-a-service (SaaS) startup Data Sutram raised early-stage funding, the companies said on Tuesday.
EV motorcycle maker Raptee has raised $3 million (Rs 25 crore) in a pre-Series A funding round, led by deeptech venture capital firm (VC) Bluehill Capital.
The round also saw participation from angel investors like Eugene Mayne (Tristar Global), Ramesh Kannan (Kaynes Technology) and Lakshmi Narayanan (ex-Cognizant)
The funding will be deployed for improving its manufacturing facility, acquiring machinery, tooling for the upcoming vehicle, as well as expanding the team.
Raptee is an EV motorcycle manufacturer based out of Chennai. It plans to expand its team size from 50 to 150.
Earlier in March, Raptee received a grant from the automotive research association of India (ARAI), the certifying authority for automobiles in India, towards the design and development of the high-voltage powertrain.
B2B-SaaS startup Data Sutram has raised $3 million (Rs 24.96 crore) in a Series A funding round led by Bharat Fund with participation from Singularity Growth Fund, IIFL, Yatra Angel Network and White Venture Capital, amongst others.
These funds will be used to improve Data Sutram’s product offerings, facilitate customer acquisition, credit underwriting, fraud investigation and collections in financial services.
Founded in 2019 by Rajit Bhattacharya, Ankit Das and Aisik Paul, Data Sutram aims to address core banking challenges, offering insights obtained by blending General Data Protection Regulation (GDPR)-compliant data from multiple sources.
In 2022, the startup had raised $2.1 million in a funding round led by Varanium Capital and Yatra Angel Network with the participation of DMI Finance’s Sparkle Fund, White Venture, Seeders LLP and existing investors IIFL Fintech Fund and Indian Angel Network along with undisclosed angel investors.
EV charging platform Nikol EV raised an undisclosed amount in a pre-seed funding round from early-stage accelerator EvolveX.
The round also saw participation from angel investors Vikas Aggarwal, Neeraj Tyagi and Bhawna Bhatnagar from WeFounderCircle.
The startup plans to use the funding to strengthen its team and establish a backend support system to facilitate business scaling. It also aims to develop a hybrid charger capable of charging 2-wheelers, 3-wheelers, and 4-wheelers simultaneously, with a portion of the funds allocated for testing and certification.
Founded by Arjun D Pawar, Nikol EV is building an EV charging infrastructure by developing its chargers and setting up fast EV charging stations. Its full-stack mobile application provides allows EV owners to locate charging stations, book, review, and make secure payments for their charging needs.
This is the second investment by EvolveX in September. Earlier, the accelerator invested in marketing tech (martech) platform PrintBrix’s pre-seed round.
