Vehicle intelligence company Vecmocon and healthcare services provider Assure Clinics have secured early-stage funding, companies said in a statement.
Vecmocon, a vehicle intelligence company, has raised $10 million in a funding round, led by the Ecosystem Integrity Fund (EIF), with participation from Blume Ventures and British International Investment (BII).
The startup stated that the funds will be used to expand its presence across various market segments, including electric two-wheelers, three-wheelers, light commercial vehicles (LCVs), and buses.
Vecmocon has developed expertise in embedded design, power electronics, IoT, and data science, which it claims now powers more than 70,000 vehicles on Indian roads.
India’s automotive sector often relies on foreign suppliers for critical compute components. Vecmocon aims to bridge this gap by developing solutions for the growing EV market, leveraging its expertise in power electronics, embedded design, connectivity and data science.
Founded in 2016 at IIT Delhi by Peeyush Asati (CEO), Adarshkumar Balaraman (COO) and Shivam Wankhede (CTO), Vecmocon now has a presence in major cities, including Delhi, Bengaluru, Chennai and Lucknow. The company has a team of more than 180 associates.
Previously, Vecmocon raised $5.2 million from Tiger Global and Blume Ventures in 2022 as part of its pre-Series A round.
Assure Clinics
Assure Clinics, a healthcare services provider specialising in dermatological and hair restoration, has secured undisclosed funding from Venture Catalysts, Sathish Subbiah (Fiducia Capital LTD, DIFC, Dubai), Indresh Shah (Honor's Group UAE), and others.
Founded by Abhishek Pramod Pilani and Priyanka Pilani, Assure Clinics offers a range of services, including advanced hair transplantation techniques, skin treatments, and specialised hair and skincare products.
The seed funding will help Assure Clinics to expand its presence in key markets, enhance its service offerings. The company plans to focus on technological advancements and geographical expansion while maintaining its commitment to personalized patient care.
