NovoJuris Legal acted as counsel to Vidyut in securing its $2.5 million investment from Flourish Ventures in its pre-Series B round.
The firm advised Vidyut in its investment transaction with Flourish and facilitated discussions with the existing stakeholders 3one4 Capital, Saison Capital, Zephyr Peacock India and others.
The transaction team consisted of Sharda Balaji (Founder & Managing Partner), Ashwin Bhat (Deputy Managing Partner), Richa Agrawal (Senior Associate), Namrata Dubey (Senior Associate) and Gopi Krishna (Senior Associate).
Founded by Xitij Avinash Kothi and Gaurav Srivastava, Vidyut has solved one of EV financing’s biggest challenges — battery degradation risk. With its unique battery-as-a-service offering, Vidyut provides innovative financial solutions that help users reduce their upfront costs while addressing common concerns around battery life and replacement costs.
The new funds raised will fuel the expansion of the company’s batter-as-a-service offerings in both passenger and commercial EV spaces. Vidyut had earlier expanded its offering to include EV resale and lifecycle management solutions. The company has also entered the passenger EV market through a partnership with JSW MG Motor India, marking India’s first BaaS model for four-wheelers that cuts upfront vehicle costs by 30%.
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