"This investment will help us expand our innovative financing and lifecycle solutions to new vehicle segments," said Vidyut Co-Founder Xitij Kothi. He highlighted the company’s breakthrough in addressing a major challenge in EV financing—battery degradation risk. By leveraging real-time performance data, including state of health, discharge patterns, and usage metrics, Vidyut can accurately predict battery life and residual value.
"Our data-driven approach enables usage-based financing tailored to actual asset performance, making EV ownership more affordable and financially viable compared to traditional financing models," Kothi added.
Harsh Gupta, Principal at Flourish Ventures, emphasized the significance of Vidyut’s BaaS model in reducing upfront EV costs and mitigating concerns about battery lifespan and replacement expenses. "With its unique Battery-as-a-Service offering, Vidyut is transforming EV financing and making electric mobility more accessible," he said.
Vidyut expanded its portfolio in 2023 to include EV resale and lifecycle management solutions. In September 2024, the company entered the passenger EV market through a partnership with JSW MG Motor India, introducing a BaaS model for four-wheelers that reduces upfront vehicle costs by 30%.
The latest funding will accelerate Vidyut’s mission to enhance financial accessibility in the EV sector, strengthening its presence across diverse vehicle categories.
Last updated by a enewsx: