Shell Ventures, others led $6 M raised by EV platform Alt Mobility
In a recent fundraising round led by Shell Ventures, Eurazeo, EV2 Ventures, and Twynam, $6 million was raised by Alt Mobility, a technology-enabled electric vehicle (EV) leasing and lifecycle management platform.
UC Inclusive, Piper Serica, Pitchright, and LetsVenture also participated in the round, contributing a combination of venture debt and equity.
According to a press release from Alt Mobility, the money will be used to hire an engineering team to expand the capabilities of its EV asset management program, FleetOS. The startup aims to reach an AUM of $100 million in the next two years by expanding its presence in over 20 cities and speeding up its growth plans.
Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal, and Jayant Gupta founded Alt Mobility in 2021 with the goal of facilitating the quick adoption of electric vehicles (EVs) in fleets by offering asset management services that are simple, integrated, and have the lowest total cost of ownership while maximizing fleet uptime.
Additionally, the company would be introducing new verticals for fleets, such as battery refurbishing units, fleet depots (parking and charging), drive-to-own models, and parametric insurance.