Astranova Mobility, an EV financing and asset management platform, has raised Rs 60 crore ($6.4 million) in a Series A funding round led by IvyCap Ventures. The round also saw participation from existing investors Asian Development Bank and Advantedge Founders, along with Trucks Venture Capital. The proceeds will be used to strengthen its data, AI, and engineering capabilities while scaling its financing platform for electric vehicles.

Astranova plans to scale its operations over the next 18 months and support deployment of EV assets at scale. Back in March last year, Astranova Mobility had raised $3 million in funding from various investors, including AdvantEdge, Asian Development Bank, and Alteria Capital.

About Astranova mobility

Astranova mobility has been Founded in 2023 by Kunal Mundra in partnership with Grip Invest. Astranova provides financing and related services for commercial EVs, including leasing, asset management, and maintenance. The startup has enabled financing for over 25,000 electric vehicles across categories such as two-wheelers, cars, buses, and trucks.