The firm was last valued at dollar 739 million during a dollar 50 million fundraise in October last year, per Tracxn. Media reports suggested that the firm was set to raise a further dollar 250-million at a dollar 1.3 billion valuation this year, but shelved the plans amid the broader tech funding winter and a hit to sales after the rollback of the government's Faster Adoption of Manufacturing of Electric Vehicles (FAME-II) subsidies in June.