Electrifi Mobility: The Gurugram Startup Revolutionizing India’s EV Fleet Industry!
India’s electric vehicle (EV) revolution is gaining momentum, and Electrifi Mobility, a Gurugram-based startup, is at the forefront of this transformation. Founded in 2023 by Kunal Mundra (former CEO of Cars24 India) and Nikhil Aggarwal, Electrifi Mobility is driving the adoption of commercial EV fleets by offering end-to-end asset and financing solutions.
From asset selection and leasing to maintenance, refurbishment, and redeployment, Electrifi Mobility is solving critical challenges for fleet operators, making the transition to electric mobility seamless and profitable.
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The Vision Behind Electrifi Mobility
“There is no problem statement besides climate that is more important for us to solve,” says Kunal Mundra, Founder and CEO of Electrifi Mobility. With over 4 million intra-city commercial vehicles in India, including two-wheelers, three-wheelers, and four-wheelers, transitioning these fleets to EVs will require an estimated $30-$50 billion in capital.
Electrifi Mobility was founded to address this challenge by providing a full-stack solution for fleet operators, enabling them to adopt EVs without the usual hurdles of financing, maintenance, and asset management.
What Electrifi Mobility Offers
Electrifi Mobility’s comprehensive offerings are designed to tackle the key pain points of commercial EV adoption:
1. Asset Selection and Leasing
Fleet operators often struggle to choose the right EVs from a sea of options provided by hundreds of OEMs (original equipment manufacturers). Electrifi Mobility simplifies this process by helping businesses identify and select the most suitable EVs—whether new or refurbished.
Through partnerships with capital providers, the startup offers flexible leasing solutions that allow fleet operators to deploy EVs profitably.
2. Maintenance and Uptime Support
Electrifi Mobility ensures that fleets achieve maximum uptime by providing repair, maintenance, and post-sales support. This minimizes operational disruptions and helps fleet operators maintain profitability.
3. Refurbishment and Redeployment
The startup also refurbishes and redeploys EV assets, ensuring that vehicles remain in optimal condition throughout their lifecycle.
How Electrifi Mobility Solves Key Challenges
The EV industry in India faces several obstacles, including:
- High Initial Costs: Many fleet operators struggle with the high upfront costs of EVs.
- Uncertainty Around Residual Value: Traditional financiers are hesitant to fund EVs due to a lack of understanding of their long-term value.
- Performance Concerns: Fleet operators often lack the technical knowledge to select EVs that meet their operational needs.
Electrifi Mobility addresses these issues by leveraging its technology and data stack to provide:
- Superior Credit Assessment: The startup uses data-driven insights to evaluate creditworthiness and reduce the risk of defaults.
- Tailored Leasing Solutions: Flexible lease options make EV adoption more accessible for businesses.
- Comprehensive Support: From asset selection to maintenance, Electrifi Mobility ensures a smooth transition to electric mobility.
Impact and Achievements
Since its inception, Electrifi Mobility has made significant strides in the EV space:
- 20,000 EVs Deployed: The startup has deployed nearly 20,000 vehicles, including two-wheelers, three-wheelers, four-wheelers, and light commercial vehicles (LCVs).
- Partnerships with Leading OEMs: Electrifi Mobility works with top players like Tata Motors, Magenta Mobility, BatterySmart, Euler Motors, Zypp, BluSmart, and Omega Mobility.
- Capital Raised: Its sister concern, Grip Invest, has secured over ₹200 crore in capital for EV asset leasing.
The startup charges a monthly fee for its services, which covers the cost of the asset and additional support. At the end of the lease tenure (typically 2-6 years), businesses can choose to buy, return, or extend the lease.
Driving EV Adoption in India
Electrifi Mobility’s efforts are aligned with India’s growing demand for sustainable transportation. According to JMK Research, EV sales in India reached 4.13 million units in 2024, with two-wheelers accounting for over 55% of the market.
The startup’s unique value proposition lies in:
- Deep Asset Understanding: Expertise in selecting the right EVs for different use cases.
- Data-Driven Credit Assessment: Reducing financial risks for both fleet operators and financiers.
- Technology-Driven Solutions: A mature tech stack that ensures operational efficiency and profitability.
Future Plans and Growth
Electrifi Mobility has ambitious plans to scale its operations:
- Funding Goals: The startup raised $3 million (₹25 crore) in seed funding earlier this year, led by ADB Ventures and AdvantEdge Founders. It plans to secure additional funding to deploy $1 billion worth of EV assets in India over the next four years.
- Expanding Market Presence: Electrifi Mobility aims to deepen its presence in India by deploying more vehicles and enhancing its tech capabilities.
- Focus on Last-Mile Delivery: With the rise of e-commerce and hyperlocal deliveries, the demand for sustainable last-mile solutions is growing rapidly.
Why Electrifi Mobility Stands Out
Electrifi Mobility’s holistic approach to EV adoption sets it apart from competitors like Alt Mobility. By addressing the entire lifecycle of EV assets—from selection and financing to maintenance and redeployment—the startup creates a win-win for fleet operators and financiers.
As large corporates push for sustainable employee transport and battery-swapping companies drive growth in the two-wheeler segment, Electrifi Mobility is well-positioned to capitalize on these trends.
Electrifying India’s Future
Electrifi Mobility is more than just a startup—it’s a catalyst for India’s transition to sustainable transportation. By providing innovative solutions to the challenges of EV adoption, the company is empowering businesses to embrace electric mobility profitably and efficiently.
With ambitious growth plans and a strong focus on technology, Electrifi Mobility is set to play a pivotal role in shaping the future of India’s EV ecosystem.
