In a significant milestone for the electric mobility sector, Electrifi Mobility, the innovative EV asset management and leasing startup, has successfully raised Rs 25 crore in a seed funding round, comprising a strategic mix of debt and equity. The funding round witnessed enthusiastic participation from prominent investors, including the Asian Development Bank (ADB) Ventures, AdvantEdge Founders, and other key backers.
The newly acquired capital will propel Electrifi Mobility’s ambitious expansion plans. A significant portion of the funds will be allocated towards talent acquisition, enabling the company to bolster its workforce. Additionally, the investment will support the expansion of the company’s geographical footprint, strengthening its presence in the rapidly evolving electric mobility landscape.
One of the key objectives for Electrifi Mobility is to accelerate the deployment of assets and service infrastructure. The company has set an ambitious target, asserting its intent to deploy over Rs 500 crore worth of commercial EV assets within the next three years. This move is poised to enhance Electrifi’s market share and contribute significantly to the growing adoption of electric vehicles in the country.
Founded in 2023 by industry veterans Kunal Mundra, former CEO CARS24, and Nikhil Aggarwal, co-founder of Grip Invest, Electrifi Mobility distinguishes itself by offering comprehensive end-to-end solutions. These solutions encompass leasing, maintenance, post-sales support, refurbishment, and the strategic redeployment of EV assets. The company’s proactive approach to addressing the entire lifecycle of electric vehicles sets it apart in the competitive landscape.
Electrifi Mobility has forged successful partnerships, with Grip Invest being a key collaborator. Together, they manage a substantial portfolio, boasting over 15,000 electric vehicle assets under management (AUM). This solidifies Electrifi’s position as a leader in the electric mobility ecosystem.
In the market, Electrifi Mobility faces competition from other dynamic players, including Ohm Mobility, Alt Mobility, and Vidyut Tech. The influx of funding is expected to fortify Electrifi’s competitive edge, enabling it to innovate further and scale its operations.
As the electric mobility sector continues to gain momentum, Electrifi Mobility’s recent seed funding success positions the company as a trailblazer in the quest for sustainable and efficient electric transportation solutions. With a strategic infusion of capital, Electrifi is well-positioned to lead the charge towards a greener, cleaner, and more electrified future.
