Tessellate Tech Ventures Exits Vecmocon Technologies with 10X Return in ₹23.7 Cr Secondary Deal

In a significant secondary transaction worth ₹23.7 Cr, early backer Tessellate Tech Ventures has made a full exit from EV components startup Vecmocon, selling its 2.97% stake for ₹15.85 Cr, a 10X return on its original ₹1.5 Cr investment.

Additional exits include Tina Goyal , Nishit Aggarwal, and Satyam Darmora, along with a partial stake sale by Vecmocon’s co-founders, collectively offloading shares worth ₹7.85 Cr to Blume Ventures and Aavishkaar Capital.

With this transaction, the Tiger Global backed startup is now estimated to be valued at ₹533 Cr ($63M post-allotment).

Founded in Delhi, Vecmocon builds core EV infrastructure components including battery management systems, vehicle intelligence modules, chargers, and instrument clusters and also provides fleet support and maintenance solutions.

Vecmocon has raised $15.7M to date, and the updated cap table shows:

>Blume Ventures as the largest external shareholder at 13.27%

>Ecosystem Integrity Fund (EIF) at 12.6%

>Aavishkaar Capital at 7.51%

>Tiger Global at 7.17%

In FY24, Vecmocon saw a 4X YoY jump in revenue to ₹15.87 Cr, although it posted a loss of ₹6 Cr, a typical growth-stage tradeoff as it scales in India’s fast-evolving EV ecosystem.

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