The Electrical Vehicle segment continues to grow at an enormous pace in India with rising sales and new product variants introduced across various categories. That apart, the sector has witnessed the continuity in momentum in terms of several deals and funding even in a Covid-stricken economy. According to JMK Research and Analyst, the investment flow in the EV sector in Q1 2021 was Rs 236 crores as compared to Rs 282 crore in the previous closed quarter i.e. Q4 2020.

Let's look at some of the key investment happened during Q1. VOGO raised Rs 83 crore capital as an extension of the Series C round, from its existing investors including Lightrock, Kalaari, Matrix Partners and Stellaris Venture Partners. Meanwhile, Lohum Cleantech has managed Rs 51 crore in a fresh round of funding from Baring Private Equity Partners (BPEP). These funds will help them to expand its manufacturing and recycling capabilities for EV batteries up to 700 MWh, from its current capacity of 300 MWh capacity. That said, Gegadyne company has collected Rs 36 crore in strategic investment from electrical appliances giant V-Guard.