Alt Mobility raises $6 Mn led by Shell Ventures and others

Alt Mobility, a technology-enabled electric vehicle (EV) leasing and lifecycle  management plaƞorm, has raised $6 million in a new round co-led by Shell Ventures,  Eurazeo, EV2 Ventures and Twynam. 

The round also saw participation from UC Inclusive, Piper Serica,  Pitchright and LetsVenture in a mix of equity and venture debt.  

The proceeds will be used for hiring engineering team to ramp up its EV asset management plaƞorm FleetOS, Alt Mobility said in a press release. The startup further plans to accelerate its growth plans and expand its presence in over 20 cities to achieve an  AUM of $100 million in the next two years.  

Founded in 2021 by Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal and Jayant Gupta, Alt Mobility is trying to enable rapid EV fleet adoption through asset management for fleets, providing easy and integrated experience and lowest total cost of ownership and maximum fleet uptime.

The firm would also be launching new verticals for fleets including drive-to-own model, parametric  insurance, fleet depots (parking and charging), battery refurbishment unit.