Electrifi Mobility, an EV leasing and asset management startup, has raised Rs 25 crore (approximately $3 million) in the seed round from ADB Ventures and AdvantEdge Founders.
The investment was a mix of debt and equity and will be used by the company for further expansion nationwide, scaling up asset deployment, expanding asset refurbishment, and service infrastructure.
Electrifi Mobility, co-founded by Kunal Mundra and Nikhil Aggarwal in 2023, is a full-stack EV asset management and leasing company that helps in electrifying commercial fleets and life cycle management. It helps NBFCs and banking partners reduce credit risk and asset risk, allowing them to deploy more capital into a critical priority sector.
Electrifi already manages over 15000 EV assets in partnership with its sister concern, Grip Invest, and with this new funding, the company plans to deploy over Rs 500 crore in commercial EV assets over the next three years, which includes EV 2-wheelers, EV 3-wheelers, cars, LCVs, HCVx, batteries, and chargers.
The company is headquartered in Gurugram, Haryana, India.