Q4 2024 recorded the lowest quarterly funding in three years, with USD 1.8 billion raised across 219 rounds, a 33.3 per cent lower than Q4 2023
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The funds will be directed towards scaling marketing and lead generation efforts in India and Southeast Asia and in advancing product development, including hardware and software certification
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The latest funding round follows a similar USD 6 billion Series B round just six months ago, backed by Andreessen Horowitz, Sequoia Capital, and others
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According to media reports, currently, Greaves Cotton holds a 62.5 per cent stake, with Abdul Latif Jameel Green Morbility owning the remainder
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The transaction comprises an all-cash deal for the acquisition of the entire stake in Fenixys for a total of 10 million euros (About Rs 90 crore)
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Other key investors in the round include Nikhil Kamath, Suniel Shetty, Vinod Duggar & key investor Manish Patel, among others
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Previously, Univest raised USD 1.5 million in seed funding from investors including Trinity Media Group, Akash Anand (Bella Vita Organic), and Deep Bajaj (Sirona)
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The funds will be allocated toward acquiring solar projects, covering marketing expenses with the launch of the regulated platform, managing operations and legal expenses
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