Astranova Mobility raises Rs 60 Cr Series A funding from IvyCap Ventures
In a Series A funding round headed by IvyCap Ventures, Astranova Mobility, an EV financing and asset management platform, raised Rs 60 crore ($6.4 million). Along with Trucks Venture Capital, current investors Asian Development Bank and Advantedge Founders participated in the round.
The money raised will be utilized to expand its electric vehicle financing platform and improve its data, AI, and engineering capabilities.
Astranova, which Kunal Mundra founded in 2023 in collaboration with Grip Invest, offers financing and associated services for commercial EVs, such as leasing, asset management, and maintenance.
Over 25,000 electric vehicles in various categories, including cars, trucks, buses, and two-wheelers, have been made financially possible by the startup.
Over the next 18 months, Astranova intends to expand its business and enable the large-scale deployment of EV assets.
Astranova Mobility raised $3 million in March of last year from a number of investors, including Alteria Capital, Asian Development Bank, and AdvantEdge.
