Indian EV solutions provider Fabric secures $13.5m series A

India-based technology company Fabric, along with its subsidiary Intellicar, has secured US$13.5 million in series A funding from Nuveen, a global asset manager.

This investment, part of Nuveen’s Private Equity Impact strategy, is aimed at supporting Fabric’s expansion in data and energy solutions for the electric vehicle (EV) and automotive sectors.

Founded in 2022 and headquartered in Bangalore, Fabric provides data solutions for the EV industry through Intellicar.

The subsidiary currently supports over 300,000 EVs, aiding technology adoption throughout the EV value chain in India.

🔗 Source: Fabric

🧠 Food for thought

1️⃣ India’s EV adoption is accelerating but faces persistent air quality challenges

India’s electric vehicle market has seen impressive growth, with adoption increasing from just 0.7% in 2020 to 6.3% in 2024, resulting in nearly 5 million registered EVs nationwide 1.

This transition has already avoided approximately 10 million tonnes of carbon emissions between 2020-2024, demonstrating tangible environmental benefits 1.

However, the challenge remains substantial. Road transport currently accounts for 12% of India’s energy-related CO2 emissions, and 60% of Indian cities report air quality 7x worse than WHO guidelines, as mentioned in the original article.

The investment in Fabric’s data solutions addresses a critical need as India pursues its ambitious target of 30% EV penetration by 2030, requiring sophisticated technology infrastructure to support this rapid transition 2.

Despite the promise of electric vehicles, research indicates that refining minerals for EV batteries could increase sulfur dioxide emissions in India, highlighting the importance of clean supply chains throughout the EV ecosystem 3.

2️⃣ Data analytics emerges as a crucial enabler for scaling EV infrastructure

Fabric’s focus on data solutions for the EV industry follows a proven pattern where analytics drives operational improvements across the EV value chain.

Leading EV operators like SmartE demonstrate this approach, using data analytics to optimize vehicle routes, track commuter usage patterns, and enhance operational efficiency in their fleet of 1,000 electric vehicles 4.

The sophisticated software infrastructure supporting EVs has become so important that India now hosts dozens of specialized EV software companies providing solutions for charging infrastructure management, fleet operations, and integration with the broader energy grid 5.