Data Infrastructure Startup Intellicar Raises $13.5 Million in Series A Round
Intellicar, Fabric's subsidiary, has raised $13.5 million in a Series A round led by Nuveen. The investment is the fifth Nuveen has made under its second climate inclusion strategy, following recent deals with CleanPlanet, Longevity Partners, and Onepak.
The new funds will enable Intellicar to expand its energy and data solutions immensely. The terms of the funding were revealed in a Fabric press release.
Established in 2022 by Shunmuga Krishnan Senthil Arumugam and Karan Makhija, Fabric and Intellicar are looking to create innovative technologies that enable effortless data and energy management across the electric vehicle (EV) ecosystem. As a top IoT and data solution provider for EVs, Intellicar now manages more than 300,000 connected EV assets, while Fabric continues to grow its energy and AI business.
Fabric has built an integrated platform aimed at maximizing operational efficiency for mass-market EV businesses. The company aims to consolidate its market position by locating future demands in the data and energy sectors. Its deployable data and energy stack is an important piece of the puzzle to drive the use of EVs.
Road transport contributes to 12% of the overall energy-related CO2 emissions in India. With its Bengaluru base, Intellicar offers data solutions to the EV and automotive industries and enables the end-to-end implementation of technology across 300,000 EVs already in use. The organization seeks to motivate individuals and organizations to adopt sustainable modes of transport that make India more energy-independent.
The new funds will enable Intellicar to expand its energy and data solutions immensely. The terms of the funding were revealed in a Fabric press release.
Established in 2022 by Shunmuga Krishnan Senthil Arumugam and Karan Makhija, Fabric and Intellicar are looking to create innovative technologies that enable effortless data and energy management across the electric vehicle (EV) ecosystem. As a top IoT and data solution provider for EVs, Intellicar now manages more than 300,000 connected EV assets, while Fabric continues to grow its energy and AI business.
Fabric has built an integrated platform aimed at maximizing operational efficiency for mass-market EV businesses. The company aims to consolidate its market position by locating future demands in the data and energy sectors. Its deployable data and energy stack is an important piece of the puzzle to drive the use of EVs.
Road transport contributes to 12% of the overall energy-related CO2 emissions in India. With its Bengaluru base, Intellicar offers data solutions to the EV and automotive industries and enables the end-to-end implementation of technology across 300,000 EVs already in use. The organization seeks to motivate individuals and organizations to adopt sustainable modes of transport that make India more energy-independent.
