Founded in 2022, Fabric is a data solutions signing specialized in the EV ecosystem
The EV Solutions provider based in Mumbai Fabric and its Intellicar subsidiary have raised $ 13.5 million in Funds from the Nuveen Global Asset Manager. The funds will be used to climb the EVIT and the company’s data solutions.
Founded in 2022, Fabric is a specialization of the data solutions firm in the EV ecosystem. Through its intelllicar subsidiary, the company leads the adoption of IoT technologies and data throughout the EV value chain, crucial for the evaption process in India.
“Nuveven’s considerable investment will allow us to accelerate the development of the next generation of our technology, open the Duta markets and also deepen our leadership in the market in the mobility ecosystem within India, while empowering millions to adopt or animoebetation. Journey to a cleaner, more ecological and more electrified world,” said Karan Makhija, founder and CEO of the cloth.
Nuveen is a private capital firm based in the United States that has $ 1.3 billion in assets under administration in 32 countries. Its main competitors include companies such as Alphasense, Fidelity Investments and Investec.
The financing is in the name of the Nuveen private capital impact strategy that aims to generate strong financial returns while adding two key challenges of sustainability, change and inequality.
TED MAA, Managing Director of Private Capital Impact on Nuveen, said: “The path of India towards a cheaper economy and the lowest CO2 emissions must address its dependence on traditional cars. The data and energy folding pile of manufacture and energy is an spredid a spradide the spreide El Spreide Spradide It is the Spreive Spellation Spreadial.
(With entries from Business line Internal rohan das)
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Posted on April 23, 2025