The investment will allow UrjaMobility to expand its pioneering solutions for managing energy consumption and supply chains in the e-mobility industry. The company’s unique pay-per-use leasing model enables customers to rent batteries according to the kilometres they drive, providing both flexibility and cost savings. This approach supports a seamless transition to electric mobility.
UrjaMobility, a battery leasing startup for commercial electric vehicles, has successfully raised INR 100 crores in a Pre-Series A funding round. The round, which included both debt and equity components, was spearheaded by Mufin Green Finance Limited and Hindon Mercantile Limited. This capital injection will enable UrjaMobility to enhance its operations and broaden its unique pay-per-use leasing model. This model shifts the focus from traditional capital expenditures to more efficient operating expenditures. Additionally, the company plans to increase its retail footprint, particularly in Tier II and Tier III cities, to meet the rising demand for cost-effective e-mobility solutions.
The newly acquired funds will also help UrjaMobility expand its energy consumption and supply chain management solutions within the e-mobility sector. Its leasing model offers flexibility by allowing customers to lease batteries based on the kilometres driven, promoting cost-efficiency and supporting an easy transition to electric vehicles.
UrjaMobility has already shown promise by delivering 150 kWh of energy per day in its first month through its Energy-as-a-Service (EaaS) model, setting the stage for rapid growth amid increasing demand for sustainable energy options. The company has since scaled up to supply 45 MWh of energy daily.
Pankaj Chopra, Founder & CEO of UrjaMobility, remarked on the company’s recent funding, stating it marks a significant milestone. He highlighted their commitment to transforming energy consumption in the e-mobility sector and expanding their presence across India. According to him, their pay-per-use model improves access to e-mobility, and the new funds will enhance their retail strategy to reach a wider audience.
Kapil Garg, Founder & Director at Mufin Green Finance Limited, also showed enthusiasm for supporting UrjaMobility’s vision. He praised their innovative solutions and dedication to sustainability, noting how these efforts align with Mufin Green Finance’s goals to promote India’s transition to clean energy.
UrjaMobility has set ambitious targets, aiming to provide 300 MWh of energy per day. The recent funding will support this objective and aid in expanding its retail presence by establishing new centres, especially in smaller cities where there is a growing need for sustainable and affordable e-mobility solutions.
Looking ahead, UrjaMobility plans to secure an additional INR 250 crore in the first quarter of 2025 to support its expanding retail network and respond to the escalating demand for e-mobility solutions nationwide. This future funding is crucial for sustaining the company’s rapid growth and scaling its innovative offerings further.
As it grows, UrjaMobility continues to reinforce its position as a leader in the evolving energy sector, highlighting its commitment to innovation and sustainability in the e-mobility market.
