Intellicar has been Co-founded in 2022 by Karan Makhija and Shunmuga Krishnan Senthil Arumugam. Fabric and its subsidiary Intellicar, builds cutting-edge technologies that empower the EV ecosystem to manage energy and data seamlessly. With over 300,000 connected EV assets, Intellicar leads in EV IoT and data solutions, while Fabric’s expands energy and AI portfolio.
Fabric and its subsidiary Intellicar have raised $13.5 million in Series A funding round led by Nuveen. This is the fifth investment on behalf of Nuveen’s second climate inclusion strategy, which recently announced similar partnerships with CleanPlanet, Longevity Partners and Onepak. The fresh funding will be used to scale its cutting-edge data and energy solutions. Fabric said in a press release. Fabric says that its integrated approach unlocks new efficiencies for EV businesses at scale. It aims to continue to deepen its role in addressing the evolving needs of data and energy markets. Its rapidly deployable data and energy stack is a crucial part of that solution in driving the widespread adoption of EVs. According to market research, road transport currently accounts for 12% of India’s energy-related CO2 emissions. According to the Bengaluru based company, it delivers data solutions for the EV and automotive industry through Intellicar, which currently serves over 300,000 EVs, enabling the adoption of technology across the entire EV value chain. The company aspires to enable individuals and businesses to embrace sustainable transportation and contributing to a cleaner, more energy-independent India.