Autobayng News Team
Kunal Mundra, Founder and CEO of Astranova Mobility.“>
Astranova Mobility, a Gurgaon-based electric vehicle (EV) financing and asset management platform, on Thursday said it has raised ₹60 crore in a Series A equity funding round led by IvyCap Ventures, with participation from existing investors Asian Development Bank, Advantedge Founders and Trucks Venture Capital.The company said the fresh capital will be used to strengthen its technology and data capabilities, and to expand its footprint in the commercial EV segment.
“Rapid execution and clear vision for the commercial EV segment position them well to scale sustainable transportation nationally,” said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures.
IndigoEdge acted as the exclusive advisor for the transaction, said the release.
It further added that the funding marks a continued investor push into India’s commercial EV ecosystem, particularly in financing infrastructure, which remains a key bottleneck for wider adoption.
India’s transition to commercial EVs is expected to require significant capital over the coming years, with industry estimates pointing to large-scale funding needs to support fleet electrification. Companies like Astranova are positioning themselves to address this gap through integrated financing and asset management solutions.
Join the community of 2M+ industry professionals.
Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETAuto industry right on your smartphone!
- Download the ETAuto App and get the Realtime updates and Save your favourite articles.
