COMPANY INTELLIGENCE PROFILE
VIDYUTTECH SERVICES PRIVATE LIMITED
Bengaluru-based EV-ownership fintech offering battery-as-a-service financing, lifecycle maintenance and assured resale for small commercial electric vehicles.
Vidyut, also known as VidyutTech, is a Bengaluru-based fintech company focused on electric vehicle ownership in India. Founded in 2021 by Gaurav Srivastava and Xitij Avinash Kothi, it provides battery-as-a-service financing and assured resale services for small commercial electric vehicles. With partnerships including Tata Motors and Mahindra, Vidyut reported revenue of ₹10.19 crore for FY2025. The startup has secured total funding of approximately $14, 20 million across several rounds, with key investors such as 3one4 Capital and Zephyr Peacock.
AI-generated, may contain errors.
Business Overview
- Trading as "Vidyut" / "VidyutTech," the company builds financing, service and resale infrastructure for electric-vehicle ownership in India, targeting small commercial EV operators, e-rickshaws, three-wheelers, cargo EVs.
- Core offerings: Vidyut BaaS, Battery-as-a-Service — pay-per-use financing that separates chassis loan from battery cost, integrated lifecycle service/maintenance, and Vidyut NextRide, assured resale/buyback.
- Partners with OEMs, Tata Motors, Mahindra, Bajaj Auto, Piaggio, Euler, MG, Montra Electric, and lenders (incl.
- Shivalik Small Finance Bank, Ecofy).
- DPIIT-recognised startup
- Founded 2021 by Gaurav Srivastava and Xitij Avinash Kothi.
- Reported ~183 employees (LinkedIn) vs ~44 per EPFO data cited by TheCompanyCheck (as of Apr 2024) — headcount figures conflict across sources, treat as partial.
- Sources: vidyuttech.in, vidyuttech.com, LinkedIn, Inc42, EVreporter.
Sector & Classification
Registry activity code listed as U50400 (sale, maintenance & repair of motorcycles/parts — per Tofler/Falconebiz filing code). TheCompanyCheck separately tags it Sector: E-Commerce, Activity: "Online automotive platforms," NIC Code J/J6 (Information & Communication — computer programming/consultancy). Actual operating business (per company website and funding press) is EV financing/BaaS — a fintech-for-EV platform, not a motorcycle dealer; the U50400 code is likely a generic MCA filing classification, not descriptive of real operations.
Directors & Key Management
Directors — source notes
1. Gaurav Srivastava — DIN 09391250 — Director since incorporation, 09 Nov 2021 (co-founder). 2. Xitij Avinash Kothi — DIN 06639253 — Director since incorporation, 09 Nov 2021 (co-founder). Both DINs and appointment dates confirmed across Tofler, Falconebiz and TheCompanyCheck. No other directors/resignations reported by any source (may be incomplete — MCA-blocked, so full DIR-12 history not verified).
GST Registrations
Not obtained. No reliable source (knowyourgst.com, findgst.in, mastersindia.co) returned a confirmed GSTIN for this exact entity despite multiple targeted searches; only PAN AAICV3837D (single-source, Tofler) is available, which would anchor a Karnataka (state code 29) GSTIN, but the registration number itself could not be verified — do not infer/construct it. Home state (Karnataka) and PAN partial only.
Financials
VIDYUTTECH SERVICES PRIVATE LIMITED reported an estimated revenue of ₹10.19 crore for FY2025, representing a 315% year-over-year increase. Other financial metrics are undisclosed, and figures are not corroborated by additional sources.
AI-generated, may contain errors.
- FY2025, per TheCompanyCheck, single source — treat as partial, standalone entity-level, likely unaudited/estimated: Revenue ₹10.19 Cr, up 315% YoY.
- EBITDA, PAT, and net worth not disclosed (locked/premium).
- No independent second source corroborates these figures — not obtained/confirmed elsewhere, no annual report or Screener/Moneycontrol listing found, as expected for an unlisted startup.
Funding History
- Total funding reported ~$14–20M across multiple rounds, source figures diverge.
- Key rounds: Seed — 13 Jan 2022, amount undisclosed; Tracxn.
- Series A — ~29 Jan 2024, $9.67M equity, lead: 3one4 Capital; also Zephyr Peacock and others, plus $2.70M conventional debt same date (Tracxn)
- Press, Inc42/India Entrepreneur, dated variably Feb 2024 per EVreporter fetch, sourced as "USD 10M Series A", names investors: 3one4 Capital (lead), Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital (venture debt), and Udaan CEO Sujeet Kumar (angel).
- A further Series A tranche is listed by Tracxn as 07 Jan 2025, amount undisclosed.
- Total funding to date cited as "$14 million" in the Feb-2024 press piece vs "$20M across 6 rounds" per Tracxn — dates/amounts conflict between sources
- Treat as partial, use for directional sizing only. Other historical investors named by Tracxn: AngelList, Trifecta Capital, Lighthouse Canton, Flourish Ventures.
Loans & Charges
- Per TheCompanyCheck, single source, partial: Open charges totalling ₹10.5 Cr — including a ₹10 Cr charge registered 20 Jun 2025 and a ₹50 lakh charge registered 30 Mar 2024. Satisfied charges: ₹0. Charge-holder identities not disclosed in the fetched source.
Competitive Landscape
- EV financing/ownership-infrastructure peers (mixed scale): Ecofy, larger, $65.5M raised, Series B, — EV/solar/SME financing NBFC
- Ascend Capital, ~$6M raised, Series A, — EV financing platform
- ChargeUp, ~$12M raised, Seed, — battery swapping/charging
- Three Wheels United — EV three-wheeler financing, similar/larger scale
- Alt Mobility — EV asset-financing and leasing, comparable stage
- RevFin — EV retail financing NBFC, larger scale., Source: Tracxn competitor mapping.
Frequently Asked Questions
What does the company do?
The company is a Bengaluru-based EV-ownership fintech that offers battery-as-a-service financing, lifecycle maintenance, and assured resale for small commercial electric vehicles. Their core offerings include Vidyut BaaS (Battery-as-a-Service), integrated lifecycle service/maintenance, and Vidyut NextRide (assured resale/buyback).
What is the company's CIN?
The company's CIN is U50400KA2021PTC154044.
When was the company incorporated?
The company was incorporated on 09 November 2021.
What is the company's registered office address?
The company's registered office is located at 36/5, Hustlehub Tech Park, Somasandrapalya, Haralukunte Village, Adjacent 27th Main Road, Sector 2, HSR Layout, Bangalore South, Karnataka 560102.
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.