Advance Mobility Bags $3 Mn From India Accelerator, Finvolve

Advance Mobility has raised $3 Mn (about INR 25.2 Cr) in an undisclosed funding round  from a clutch of investors, including India Accelerator and Finvolve to scale up operations and expand footprint.

Founded by Mohit Jalan in 2023, Advance Mobility is a fleet startup operating mainly on the Uber platform. The startup claims to be focused on sustainable mobility solutions and have a 100% CNG fleet of vehicles.

Advance Mobility claims it is focussed on addressing the challenges faced by market players, customers, and drivers in the mobility industry. 

“With changing dynamics, mobility as a solution is emerging as a massive opportunity and Advance Mobility is fully committed to continue expanding in this direction,” said Jalan in a statement. 

In February this year, the startup announced raising $2 Mn in a funding round from Finvolve and India Accelerator.

Notably, Indian mobility space is going through rapid transformation, with a focus on sustainable solutions. The electric vehicle (EV) sector has emerged as the key beneficiary of this transformation.

Recently Yulu, which has a fleet of over 40,000 electric vehicles, announced its plan to deploy one lakh EVs by 2025. To fuel this expansion, it will raise $100 Mn (around INR 839.6 Cr) in its Series C funding round over the next year.

(The story will be updated shortly)

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