Vidyut offers EV financing, vehicle lifecycle management, EV insurance, and EV resale services, and provides a battery subscription ownership plan backed by in-house asset-underwriting algorithms. The company already offers ownership options for vehicles from Mahindra, Piaggio, Altigreen, Montra Electric (Murugappa Group), Euler Motors, and OSM. Vidyut plans to expand its footprint to 40 Indian cities and double its workforce by the end of FY25 as it aims to build a full-stack EV ecosystem. The startup intends to use the new funds to broaden its offerings across the EV ecosystem. Founded in 2021 by Xitij Kothi and Gaurav Srivastava, Vidyut has transitioned from pre-revenue (until FY23) to reporting operating metrics. In the most recent fiscal year the company reported revenue of Rs 68 lakh and a loss of Rs 3 crore.

Total raised

$10M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2024