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Electric mobility platform Drivn secures $80 Mn commitment from Nomura

EntrackrEntrackr · 3h ago
Electric mobility platform Drivn secures $80 Mn commitment from Nomura
Medial

Drivn, a full-stack electric mobility platform focused on large commercial vehicles, has secured financing commitments of up to $80 million from Nomura, a global financial services group. The proceeds will be used to support the Phase 1 rollout of nearly 1,000 electric buses and trucks across inter-city and heavy transport segments, Drivn said in a press release. Co-founded last year by Manav Bansal and Alpna Jain, Drivn aims to build India’s operational and financial backbone for commercial electric mobility. The company acquires, owns, and leases electric buses and trucks, supported by an integrated tech-stack model that includes planning charging infrastructure, battery lifecycle management, fleet operations, and end-of-life solutions. According to the Gurugram-based startup, its OEM-agnostic approach is purpose-built for inter-city transport operators, logistics providers, and asset-intensive industries transitioning to electric fleets at scale. The company’s proprietary platform and on-ground operating data enable better asset utilization, efficiency, and performance that large fleets demand, supporting customers across sectors such as inter-city bus transportation, logistics, ecommerce, cement, and steel. The company focuses on inter-city transport and heavy trucking—segments that remain underserved by traditional financiers despite offering the highest potential for emissions reduction and operational efficiency. Drivn said its platform enables Scope 3 emissions reduction for hard-to-abate sectors including logistics, cement, and steel, while supporting India’s target of 30% electric vehicle penetration by 2030. By combining asset ownership with operational and data discipline, the company is positioning itself as a long-term infrastructure provider for India’s transition to zero-emission commercial transport.

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UrjaMobility secures $12 Mn in pre-Series A funding

EntrackrEntrackr · 1y ago
UrjaMobility secures $12 Mn in pre-Series A funding
Medial

UrjaMobility, a startup specializing in battery leasing for commercial electric vehicles (EVs), has raised Rs 100 crore ($12 million) in its pre-Series A funding round, which includes both debt and equity financing. The round was co-led by Mufin Green Finance and Hindon Mercantil. The new funds will be used to expand UrjaMobility’s solutions in energy consumption and supply chain management, focus on the e-mobility sector, scale operations, and enhance its unique pay-per-use leasing model, according to a press release. Founded in 2022 by Pankaj Chopra, UrjaMobility offers battery leasing options for various commercial EV categories, including L3 and L5 vehicles, as well as electric L2s powered by lithium-ion batteries. The company aims to transform the upfront costs of battery energy into a manageable Monthly Lease Value (MLV). UrjaMobility has introduced a unique pay-per-use leasing model that allows customers to lease batteries based on kilometers driven, providing greater flexibility by converting traditional capital expenditures (CapEx) into smart operational expenditures (OpEx). This innovative approach offers end-users a cost-effective and hassle-free solution for adopting electric mobility. In its first month of operations, UrjaMobility claims to have delivered 150 kWh of energy per day through its Energy-as-a-Service (EaaS) model. The company has since expanded its capabilities and now provides 45 MWh of energy daily. Looking ahead, UrjaMobility aims to raise an additional Rs 250 crore in the first quarter of 2025 to further strengthen its retail network and meet the increasing demand for e-mobility solutions across the country.

E-mobility startup Kazam raises $8 Mn led by Vertex Ventures

EntrackrEntrackr · 1y ago
E-mobility startup Kazam raises $8 Mn led by Vertex Ventures
Medial

E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors. The company had previously raised $11.4 million from Avaana Capital Advisors and others. The fresh funds will be used to bolster its technology and product teams, enhance platform offerings, and expand market presence, Kazam said in a press release. Co-founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform which builds smart and affordable EV charging networks. The platform weeds out the hassles of EV infrastructure with its software and hardware solutions, designed to support charge point operators, fleet operators, and electricity grids. The startup’s aims to digitize the entire e-mobility value chain, from managing grid energy to fueling EVs and overseeing fleet operations. According to the Bengaluru-based company, its software enables a diverse range of vehicles, including two-wheelers, commercial electric vehicles (CEV) three-wheelers, and city buses, and claims to serve more than 25,000 charging points. It has recently launched LEV-DC, a fast charging option for electric two-wheelers and three-wheelers that can charge an electric scooter up to 80% in 20 minutes. Kazam has partnered with BigBasket, Zypp, Mahindra Logistics and other third-party logistics, facilitating 1 million transactions and integrating over 25,500 EV charging devices in the last 12 months. The firm also added that its reach extends to major vehicle OEMs including Bajaj, Ather, TVS, Hero MotoCorp, Mahindra, and Ultraviolette.

EV startup ALT Mobility raises $10 Mn in Series A

EntrackrEntrackr · 1y ago
EV startup ALT Mobility raises $10 Mn in Series A
Medial

Commercial electric vehicle (EV) leasing and asset management company ALT Mobility has secured $10 million in a Series A funding round led by European venture capital firm Eurazeo. The round also witnessed participation from its existing investors Shell Ventures, Twynam Earth Fund, and EV2 Ventures. The Delhi-based company had previously raised $6.45 million from its existing investors. The proceeds will be allocated towards expanding its digital asset management platform, standardizing its battery technology, expanding its fleet to 30,000 vehicles by March 2026, and managing Rs 800 crore in assets under management (AUM) over the next 18 months, ALT Mobility said in a press release. Co-founded in 2021 by Dev Arora, Anuj Gupta, Harsh Dev Goyal, Jay Gupta, and Manas D Arora, ALT Mobility is a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users. It simplifies financing and provides reliable technology that supports the transition of intra-city logistics to electric mobility, reducing carbon footprints and improving profitability. ALT Mobility claims to have a fleet of 10,000 vehicles across 20 Indian cities leased to fleet operators and drivers. The company offers a comprehensive solution, including leasing, servicing, charging, real-time fleet monitoring, and data-driven insights to ensure low total cost of ownership and maximum fleet uptime. ALT Mobility plans to expand its offerings to the driver-cum-owner segment, introducing innovative 'drive-to-own' options and leasing products for four-wheeler light commercial vehicles and cars. It also aims to roll out a Battery-as-a-Service (BaaS) model for second-life vehicles.

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