A Startup Incubated by the Indian Institute of Technology Madras Raises 10 Crore for its Electric Vehicle Platform

 


Original Content- Business Upside India 

Esmito, an electric vehicle (EV) startup, supported by the Indian Institute of Technology Madras, has secured seed funding from Unicorn India Ventures for ten crores.

According to the company, the money will be used to enhance the technical team, expand swapping solutions, and carry out the company’s growth and expansion strategy.

Esmito stated that it also plans to develop numerous use cases in essential industries like logistics and MAAS (Mobility as a Service).

Why is Electric Car Startup Initiative Taken?

The Indian Institute of Technology, Madras, stated that a Master’s Program on Electric Vehicles (EV) will be offered and that a dual degree would span multiple disciplines. Offering it to its BTech and dual degree students would increase their interest in e-Mobility.

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