Bengaluru-based mobility tech company Fabric and its subsidiary Intellicar have reportedly secured $13.5 million in Series A funding, with the investment round led by Nuveen’s Private Equity Impact strategy. While an official statement from the company is still awaited, industry sources and media reports suggest the funding aims to bolster the adoption of electric vehicles (EVs) across India through advanced data and energy solutions.
Fabric, founded in 2022, focuses on building digital infrastructure to support the EV ecosystem. Its arm, Intellicar, currently provides connected solutions to over 300,000 EVs in the country. The fresh capital is expected to scale their platform and strengthen collaborations with OEMs, fleet operators, and other key players in India’s evolving EV landscape.
The funding aligns with Nuveen’s broader objective of backing climate-focused technologies that contribute to inclusive energy access and sustainable urban mobility. Intellicar’s data-driven platform is known for enhancing EV efficiency, improving fleet operations, and enabling smoother transition for businesses shifting from internal combustion engines to electric vehicles.
As India pushes toward its electrification targets, companies like Fabric and Intellicar could play a pivotal role in bridging the gap between energy innovation and mass adoption.
