Nuven, a global asset manager with $ 1.3 trillion in property under management, has invested a strategic development equity in the original company of Fabric IOT – Intellic, through his personal equity impact strategy.
Established in 2022 and headquarters in India, Fabric IOT has established a strong reputation to provide advanced data solutions in EV and automotive regions. Its subsidiary, intelligor, currently supports over 300,000 electric vehicles, which helps in a significant decrease in carbon emissions and to promote greenery dynamics in millions of kilometers every month.
This investment reflects Nuven’s commitment to enabling technologies enhancing permanent growth within India’s rapidly expanded EV landscape.
Nuven Private Equity Impact Team aims to generate strong financial returns and address two of the biggest sustainable development challenges of our time: climate change and inequality. This is the fifth investment from Nuven’s second climate inclusion strategy, recently announced a similar partnership with Cleanplanet, Longwiti Partners and Onepack.
India is facing significant air pollution challenges, especially in urban centers, which has moved forward by rapid urbanization. For example, road transport is currently responsible for 12% of India’s energy -related CO2 emissions and is an important contributor to urban air pollution.
In 2023, the Indian Institute of Toxicology Research (IITR) found that the main cause of air pollution was related to the increase in automobiles, resulting in a decline in air quality scores; 60% of Indian cities have a report of 7 times worse than the World Health Organization (WHO) guidelines. By taking advantage of the real world EV insight and proven stability solutions, the fabric Iot is well cleaned to lead the country’s transition to clever transport.
Ted Ma, Managing Director of Private Equity Impact in Nuven, said: “India’s way for a greenery economy in India and low CO2 emissions will have to deal with their dependence on traditional automobiles. Fabric IOT’s rapid data and energy stacks are working with a fully working production. To embrace permanent transportation and to embrace permanent transport.
Karan Makhiza, co-founder and CEO of Fabric Iot, said: “As an investor, Nuven has shared our vision to change India’s energy landscape and stability objectives. This big investment will be able to accelerate the development of the next generation of new markets, to increase the development of our technology. A cleaner, greenery and more educational travel.”
