E-mobility startup Indeanta secures $150K in its bridge round of funding
The electric mobility start-up Indeanta has raised $150,000 (Rs 1.1 crore) from IvyGrowth Associates and a network of Angel Investors. Prateek Toshniwal, Mehul Shah, Nine Spar, and others lead the round. The financing is a bridge round in the company’s current pre-series A round. Indeanta launched its in-campus mobility services in December 2020. These services include electric buggies, electric motor scooters, on-campus electric bicycles, and electric vehicles.
Indeanta is in the midst of establishing Memorandums of Understanding (MOUs) with e-commerce businesses to offer up to 15,000 three-wheelers and light commercial vehicles for delivery across several cities in India over the next three years.
Dr Aaron D’souza, the company’s founder said that Indeanta truly thinks that Electric Mobility as a Service (EMaaS) is a grossly underserved industry. The Electric Mobility field is saturated with OEMs, component suppliers, and technology enablers, nevertheless, the revolution is taking place in the service business. The one cannot exist without the other. We are grateful for the investors’ confidence, financial assistance, and mentorship. This would undoubtedly aid us in carrying out our ambitious ambitions.
Prateek Toshniwal, the co-founder of IVY Growth Associates, stated that considering the EV sector expansion and the At campus need in colleges, Indeanta will be a firm to look for in the future. And Dr Aaron D’souza is a committed founder who will lead this adventure in the coming decade.”
The funds obtained will be used to employ professionals to help the company develop both in India and beyond. A portion of the investment will also be used to fortify the technological platform, onboard OEMs with lease plans, and focus on innovation and advancements in battery technology, V2G (Vehicle to grid technology), and smart charging infrastructure.
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