India’s only Connected Vehicle incubator AutoNebula gets SEBI approved funding
AutoNebula has secured a category 1 alternative investment funding of INR 45 crores. The funding, which has been approved by SEBI (Securities and Exchange Board of India), was headed by Milestone Trustees along with Sanjay Puri, chairman and founder of AutoNebula.
AutoNebula which was set up in 2016, has offices in the United States, Bangalore and Pune and close to two dozen start-ups in their portfolio from various streams in the connected transport space. Commenting on the investment development, Sanjay Puri, Chairman and Founder, AutoNebula, said, “India is facing a huge issue with transportation and this is only going to increase further with every passing year. The endeavor should be to not only innovate on new ways of transportation but also make sure the existing systems are utilized to the maximum limit benefiting the people. Our team will identify and work with brilliant minds from the country to create a world where multiple high quality and eco-friendly options exist for safe and convenient road travel and transport, and where these options are readily available, highly reliable, and extremely cost efficient. The solutions will address problems in the ‘connected transport’ domain.”
AutoNebula’s model nurtures start-ups for success and investor ROI. Expediting two-way access between the US and Indian markets for investment and expansion, each start-up is mentored across business, transport and marketing among other focus areas. They provide a range of incubation services, including seed funding, workshops conducted by global experts, mentorship and networking.
The team of professional experts at AutoNebula will encourage ‘connectedness’ throughout the transport ecosystem; identify, initiate, and continue dialogue and partnerships across public and private sectors for the promotion of safe and sustainable modes of transport, infrastructure, and traffic management. AutoNebula achieves that by bringing together all critical stakeholders in this ecosystem, from the startup founders, expert and specialist mentors from all over the world to the investment community, potential customers, regulatory authorities, and industry associations. The ecosystem and partnerships created are ready to promote products and services across multiple countries.