Beyond Capital Ventures backs Alt Mobility with Equity Funding

Alt Mobility, which is a specialist in leasing and asset management of EVs for commercial fleets, has backed equity funding from Beyond Capital Ventures (BCV), which is a growing Venture Capital Fund. BCV has collaborated with Alt Mobility with other investors which includes Shell Ventures, Eurazeo, and EV2 ventures. 

Alt Mobility Current Assets

Currently, Alt Mobility has a stock of 13,000 electric vehicles and assets worth over $30 across 30 Indian cities, which are under fleet operators and drivers for lease. The company has a vision of expanding its fleet to 30,000 vehicles and an objective of achieving $100M assets under AUM  by March 2027.

The company will be also focussing towards growth of its digital asset management platform and upgrading their battery efficiency. 

If we look at the graph, then it is clearly evident that India’s EV mobility is constantly on a rise and showing exceptional growth but still there are various issues which are long term. There are various upcoming opportunities that will help the investors to think beyond electric vehicles. 

These opportunities include scalable charging infrastructure for Tier 2 and Tier 3 cities, advanced battery recycling, limited financing options for EV buyers and minimal transition towards electric commercial transports. Alt Mobility has analysed these issues carefully and will be working on solving these issues by integrating all important players in this expertise. 

The prime objective of Alt Mobility is not just to provide leasing solutions, but will be also focussing on an efficient way that will ensure seamless vehicle standardization and effective financing. Their core expertise lies in the manufacturing of advanced battery technology and support for an efficient service network.