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Electrifi Mobility Charges Ahead with Rs 25 Cr Seed Funding Boost

Electrifi Mobility, a startup specializing in electric vehicle (EV) asset management and leasing, has successfully raised Rs 25 crore in a seed funding round, comprising a combination of debt and equity. Among the investors participating in this round are Asian Development Bank (ADB) Ventures, AdvantEdge Founders, and other backers. The infusion of funds will be directed towards several key initiatives, including bolstering recruitment efforts, expanding operational reach, and accelerating the deployment of assets and service infrastructure.

Notably, Electrifi Mobility has outlined ambitious plans to deploy commercial EV assets worth more than Rs 500 crore within the next three years. Founded in 2023 by former CARS24 CEO Kunal Mundra and Nikhil Aggarwal, co-founder of Grip Invest, the startup offers comprehensive solutions covering leasing, maintenance, post-sales support, refurbishment, and redeployment of EV assets. Leveraging its partnerships, particularly with Grip Invest, Electrifi claims to manage a substantial portfolio of over 15,000 EV assets.

In a competitive landscape, Electrifi Mobility faces rivals such as Ohm Mobility, Alt Mobility, and Vidyut Tech. Despite the competition, the startup aims to carve out a significant market share by leveraging its expertise, strategic partnerships, and innovative offerings in the burgeoning EV industry. With a focus on providing end-to-end solutions, Electrifi aims to address the growing demand for sustainable mobility solutions while catering to the diverse needs of businesses and organizations.

The successful seed funding round signifies a vote of confidence in Electrifi Mobility's business model and growth prospects. By securing financial backing from reputable investors, the startup is well-positioned to execute its expansion plans and capitalize on the evolving opportunities within the EV ecosystem. As the demand for electric vehicles continues to surge, Electrifi remains committed to driving innovation, sustainability, and efficiency in mobility solutions, ultimately contributing to the transition towards a greener future.


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