Fabric Secures Funding to Enhance EV Solutions

Fabric, alongside its subsidiary Intellicar, has successfully acquired 13.5 million USD in a Series A funding round, which was spearheaded by Nuveen. This investment marks the fifth contribution from Nuveen’s second climate inclusion strategy, which has established similar partnerships with organisations such as CleanPlanet, Longevity Partners, and Onepak.

The newly raised capital will be allocated to expand their advanced data and energy solutions, as confirmed by Fabric in an official statement.

About Fabric and Intellicar

Founded in 2022 by Karan Makhija and Shunmuga Krishnan Senthil Arumugam, Fabric and its subsidiary Intellicar develop innovative technologies designed to seamlessly manage energy and data within the electric vehicle (EV) ecosystem. With more than 300,000 connected EV assets, Intellicar is a leading provider of IoT solutions and data analytics for electric vehicles, while Fabric enhances its portfolio in energy and artificial intelligence.

Empowering the EV Industry

Fabric emphasises that its integrated solutions bring enhanced efficiencies for businesses in the EV sector on a larger scale. The company aims to strengthen its position in catering to the changing demands of data and energy markets. Its swiftly deployable data and energy system is essential for promoting the extensive uptake of electric vehicles.

Climate Impact of Road Transport

Market analysis indicates that road transport currently contributes to 12% of India’s energy-related CO2 emissions.

The Bengaluru-based company provides data solutions tailored for the electric vehicle and automotive sectors through Intellicar, which presently supports >300,000 EVs, facilitating technological adoption throughout the EV value chain. The company aims to empower both individuals and businesses to pursue sustainable transport solutions, contributing to a cleaner and more energy-independent India.