EV financing platform Ohm Mobility raises ₹3 crore in pre-seed funding spherical led by Antler India

• EV financing platform Ohm Mobility has raised ₹3 crore in a pre-seed funding spherical.
• Antler India led the spherical and noticed participation from Blume Founders Fund and different angel traders.
• Ohm Mobility presents an end-to-end EV targeted financing platform.

Bengaluru-based electrical automobile (EV) financing platform Ohm Mobility has introduced that it has raised ₹3 crore in a pre-seed funding spherical. The spherical was led by Antler India, an early-stage enterprise capital agency, marking the agency’s first funding within the EV house in India.

The pre-seed funding spherical additionally noticed participation from Blume Founders Fund and different distinguished angels comparable to Sagar Gubbi, Anshuman Bapna, Mathew Chako, and Karishma Menon. Catalyst Fund and angel traders like Kunal Shah again the corporate.

Ohm Mobility, based in 2020 by Nikhil Nair, is an end-to-end EV-focused financing platform. The corporate helps EV corporations entry institutional capital and helps lenders uncover, confirm and deploy capital to EV corporations.

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The funds raised by Ohm Mobility will probably be used to construct and scale a “first of its variety” know-how platform within the EV financing sector. The know-how will act as a bridge, connecting EV corporations within the nation with monetary establishments.

“We’re thrilled to obtain assist from among the finest early-stage traders in India. We’re assured now we have a scalable enterprise mannequin that’s fixing a core downside round financing for EV companies. The backing from Antler and Blume Founder Fund is a good testomony to our mission and what we’re aiming to do at Ohm,” stated Nikhil Nair, founder, and chief government officer of Ohm Mobility.

The EV financing market is anticipated to develop from the present $2 billion per 12 months to $50 billion per 12 months by 2030.

Ohm Mobility has already launched its new know-how platform. It’s constructed to onboard any enterprise within the EV market trying to increase capital from monetary establishments, together with OEMs, fleet operators, logistics suppliers, battery corporations, or different EV corporations.

The corporate makes use of a proprietary danger administration device to collect and assess information, together with the well being of the fleet and numerous different inputs to enhance credit score and danger administration for lenders, together with banks, NBFCs, leasing corporations and others.

“We intention to facilitate debt and leasing choices to each new-entrants as properly present companies which might be switching to wash mobility. At Ohm, our intention is to change into a one-stop store for all EV financing wants and be an necessary catalyst in driving India’s clear mobility transition,” Nair added.

“As EV penetration in India goes from 3% to 50% in sure classes by 2030, financing will play a vital function in enabling this. Ohm’s method of a tech-enabled, asset-light, end-to-end lending market to allow EV consumers to digitally finance their fleets is strongly differentiated,” stated Vineet Agarwal, funding director, Antler.

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