Three Years After Buying Intellicar Parent Fabric IoT Raises $13.5 Mn

Intellicar Telematics’ parent entity Fabric IoT has raised $13.5 Mn (about INR 115 Cr) in its Series A funding round from American asset manager Nuveen

This marks the first fundraise for Fabric IoT, which was set up by Intellicar founders in 2022

Realising the large market opportunity that the ongoing EV disruption would provide, the cofounders of Intellicar reacquired Intellicar from TVS for INR 45 Cr, three times of the INR 15 Cr sell off in 2020

Deeptech startup Intellicar Telematics’ parent entity Fabric IoT…