Kunal Mundra, the former CEO of CARS24 India, has partnered with Grip, a digital investment platform in India, to launch Electrifi Mobility, an EV asset management and leasing company.
According to a statement, The new startup aims to accelerate India’s transition to electric mobility by providing a holistic asset management solution. It would provide solutions, including asset selection, leasing, maintenance, post-sales support, refurbishment, and redeployment of EV assets.
What is the aim of Electrifi Mobility?
Electrifi Mobility aspires to resolve the stalemate in India’s electrification journey by connecting lenders, fleet operators, and reputable OEMs through its integrated approach and robust tech platform, creating a resilient and asset-light EV fleet ecosystem.
In just two months since its inception, the company claimed it has deployed assets worth Rs 10 crore and has deals worth Rs 30 crore underway.
The significance of electrification of transportation
Kunal Mundra, Co-founder & CEO of Electrifi Mobility, emphasized the significance of electrification of transportation in India’s journey to net zero.
He outlined the challenges at the ground level, including fleet operators struggling with asset assessment and capital access, financial institutions hesitating to deploy funds due to rapid technology evolution, and OEMs unable to scale due to higher upfront costs.
According to Kunal, Electrifi Mobility aims to address the challenges by assisting fleet operators in choosing the right OEM products, creating operating leases in partnership with multiple capital providers, and providing various post-sale value-added services, all built on Electrifi Mobility’s proprietary tech stack.
Nikhil Aggarwal, Founder & CEO of Grip, said, “With Electrifi Mobility, Grip will continue to leverage its strength in raising funds to meet the substantial capital requirements in the vastly growing EV sector.”
Grip has already raised over Rs 200 crore in capital for EV asset leasing and has built a diversified portfolio across EV assets and 25+ fleets, including partnerships with various fleet operators and OEMs.
Electrifi Mobility, founded in June 2023, is aimed at driving India’s net-zero commitment by enabling the seamless transition of commercial fleets to EVs.
The startup said its goal is to ensure that the fleet operators have access to quality EV assets, reliable financing, and optimized operations, all supported by a proprietary tech stack, facilitating a sustainable and impactful transition to electric mobility in India.
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