April 24, 2025: Fabric and its subsidiary Intellicar on Wednesday has secured $13.5 million funding in its Series A round upgrade its data and energy solutions.
Founded in 2023, the Bengaluru-based data and energy stack player, provides data solutions for the EV and automotive industry through Intellicar, which now serves more than 3 lakh EVs.
Karan Makhija, Co-Founder and CEO, Fabric said, “This sizable investment will enable us to accelerate the development of the next generation of our technology, opening up newer markets and also deepen our market leadership in the mobility ecosystem within India while empowering millions to embrace sustainable transportation. This partnership marks the start of an exciting journey toward a cleaner, greener, and more electrified world.”
The funding also marks Nuveen Private Equity Impact’s fifth investment on behalf of the PE’s second climate inclusion strategy, which had recently announced similar partnerships with Longevity Partners, CleanPlanet, and Onepak.
Fabric rapidly deployable data and energy stack is promising
Ted Maa, Managing Director, Private Equity Impact at Nuveen said, “India’s path to a greener economy and lower CO2 emissions must tackle its reliance on traditional automobiles. Fabric’s rapidly deployable data and energy stack is a crucial part of that solution in driving the widespread adoption of EVs.”
The latest round of funding was raised from the asset management firm , the firm said in a statement.
