WionDrive News Desk 
Alternate Investment Fund (AIF) SeaFund has invested INR 5 crore across five sustainability focused startups across clean energy and the EV value chain. The five startups are – Redwings, Docker Vision, Swapp Design, Simatricals and Evhicle. The technology fund plans to invest a total of INR 250 crore across sustainability, fintech, SaaS and hardware-enabled startups, of which 20% will be invested in clean energy, mobility and sustainability focused startups.
Sustainability startups
RedWings is into autonomous drones used to transform logistics supply chains. Docker Vision makes uses of Computer Imaging and AI to accelerate mobility of shipping containers at ports. Swapp Design designs interoperable and modular architecture for fast battery swapping. Simatricals develops autonomous EV wireless charging solutions that provide high-speed charging through auto alignment suitable for different vehicles classes. Evhicle produces Vehicle Control Units (VCUs) that provide intelligence to EVs in order to optimise vehicle dynamics, telemetry, payload monitoring and over the air updates (OTA).
Prioritizing EV sector
SeaFund has selected these five EV and sustainability startups after an exhaustive nation-wide process. Apart from the monetary investment, these companies will also benefit from market access and acceleration programs over the next few months. “We take pride in the fact that for us sustainability and EV related sectors have always been a priority and it is now that we are seeing real innovation across the value chain. We will continue to help our portfolio companies to scale and continue to look for fresh investment opportunities in this sector,” said Manoj Agarwal, Managing Partner, SeaFund.
The tech fund plans to invest a larger amount in one or more of these startups as they scale and meet their performance milestones. The fund says that it will continue to work with the startups and looks forward to investing more in them and other potentials who offer unique EV based mobility solutions. This is also a part of SeaFund’s strategy to build a powerful portfolio across various climate focused technologies.
