Electrifi Mobility raises Rs 25 Cr in seed round

EV asset management and leasing startup Electrifi Mobility has raised Rs 25 crore as part of a seed round in a mix of debt and equity. The round saw participation from Asian Development Bank (ADB) Ventures, AdvantEdge Founders and other investors. 

The proceeds will be used to ramp up hiring, expand its footprint and ramp up the deployment of assets and service infrastructure. 

The firm also claimed that it will deploy more than Rs 500 crore worth of commercial EV assets over the next three years.

Founded in 2023 by former CARS24 CEO Kunal Mundra and Grip Invest co-founder Nikhil Aggarwal, Electrifi offers end-to-end solutions such as leasing, maintenance, post-sales support, refurbishment, and redeployment of EV assets. 

It claims to have more than 15,000 EV assets under management (AUM) in partnership with Grip Invest.

Electrifi Mobility competes with the likes of Ohm Mobility, Alt Mobility, and Vidyut Tech.