Capital A has launched a $10 million fund to help India’s electric vehicle ecosystem grow
- ByStartupStory | February 16, 2022
Capital A, a seed to an early-stage relevant start-ups venture fund, has launched “Evolve,” a $10 million (around 75 crores) cleantech fund to provide investment for electric vehicle-related firms in India. The fund, dubbed Evolve, would aid in the adoption of electric vehicles in the nation, according to the business.
According to a business release, India is on the verge of a mobility revolution. EVs have previously been kept out of the mainstream due to their high cost and short-range. Fast charging, cheaper pricing, and battery swapping services, among other things, will soon erase range anxiety and cost worries, according to the report.
The firm is interested in forming partnerships with academic institutions that specialize in the electric vehicle industry and foster entrepreneurship in the field.
It was also said that the goal is to guarantee that a lack of working cash or mentoring does not hinder prospective EV tech start-ups from inventing and making the next great breakthrough in electric transportation.
Capital A had previously launched a $25 million proprietary fund prior to the Evolve fund, which will invest in 8-10 firms with ticket sizes ranging from $50,000 to $500,000.
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