Vidyut's Electric Expansion: New Funding Sparks Battery-as-a-Service Growth

Vidyut, an electric mobility company, has secured USD 2.5 million from Flourish Ventures to expand its Battery-as-a-Service offerings. The funding will support the growth of innovative financing solutions in passenger and commercial EV segments. Vidyut's data-driven approach reduces battery risks, making EVs more financially accessible.

Electric mobility company Vidyut has announced a significant boost in its expansion plans, having raised USD 2.5 million from global fintech investor Flourish Ventures. The fresh funding is set to enhance Vidyut's battery-as-a-service offerings, targeting both passenger and commercial electric vehicle segments.

Co-Founder Xitij Kothi stated that the investment will amplify their innovative financing and lifecycle solutions across new vehicle segments. Vidyut has addressed critical issues in EV financing, notably battery degradation risk, by analyzing real-time performance data, thus accurately predicting battery life and value.

Flourish Ventures Principal Harsh Gupta praised Vidyut's battery-as-a-service model, noting its potential to lower upfront costs and address common battery life and replacement concerns. In collaboration with JSW MG Motor India, Vidyut expanded into the passenger EV market in 2024, offering significant cost reductions with their new BaaS model.