IIT-Madras-incubated Revoh Innovations, an EV sub-components manufacturing company, announced that it has successfully raised $4,25,000 (Rs 3.4 crore) in a seed round from Nexzu Technologies and Whiteboard Capital.
With the new round of funds, Revoh plans to expand the team size and focus on developing specific products that cater to the current needs of the Indian electric vehicle market. The funds will be utilised to manufacture products with higher power specifications while simultaneously enhancing the existing products by incorporating advanced features.
Previously, in round seed A, Revoh received funding from angel investors, and, at present, the company in round seed B, the company has raised Rs 3.4 crore. Team Revoh proudly says that the firm has been consistent with its goals, and now, as expected, seed B has provided a generous amount to keep the streak and preset goals going.
Revoh Innovations is an EV sub-component manufacturing company, developing technology solutions for motor controllers to enhance the efficiency of two-wheeler/ three-wheeler EV vehicles. Its commitment to cutting-edge research methodologies and production techniques enables it to deliver the most efficient EV controllers as compared to its other indigenously designed and developed counterparts.
Revoh is on a mission to revolutionize the Indian EV sector by reducing the market’s reliance on overseas subcomponents and products. The company has around 75 clients worldwide, ranging from multinational corporations to startups.
Commenting on the same, Vignesh Durai, CEO, Revoh Innovations said, “Revoh’s growth has been exceptional, particularly in the last two years. The funding that we have received goes into the expansion of the company and recruiting special talents that can provide superior skills and extraordinary workmanship. Further, we are also planning to venture into the high-power controllers segment soon.”
