UrjaMobility, a battery leasing for commercial EVs start-up, has raised Rs 100 crore in its Pre-Series A, led by Mufin Green Finance and Hindon Mercantile.The company will use the funds for supply chain management, scale its operations and extend its pay-per-use leasing model.
The pay-per-use leasing model allows customers to lease batteries on a per-kilometre basis, offering them greater flexibility by converting traditional CapEx into Smart OpEx.
UrjaMobility aims to raise an additional Rs 250 crore in the first quarter of 2025 to further strengthen its retail network and meet the rising demand for e-mobility solutions across the country.
Pankaj Chopra, Founder and CEO, UrjaMobility, said that the funding will help them strengthen their retail presence, with a specific focus on Tier II and Tier III cities.