Beyond Capital Ventures (BCV) announced a recent investment in Alt Mobility. Alt Mobility is a full-stack electric vehicle service (EVaaS) company specializing in integrated leasing and asset management of EVs for commercial fleets. BCV joins Alt Mobility’s cap table and other differentiated investors, including Shell Ventures, Eurazeo, and EV2 Ventures.
While India’s EV sector has achieved commendable progress, several structural gaps present long-term and scalable opportunities for investors willing to think beyond vehicles. And these include inadequate charging infrastructure beyond Tier-1 cities, nascent battery recycling, limited financing options for informal sectors, and low electrification of commercial fleets. Alt Mobility addresses these gaps by bringing together all key players, including vehicle manufacturers, lenders, fleet operators, charging point operators and drivers, on one seamless platform.
Alt Mobility leases vehicles and provides a complete solution that caters to everything from vehicle standardization and financing to after-sales management and maintenance. Its competitive advantage lies in its unique combination of in-house battery tech and service network, no-down-payment EV leasing, and asset underwriting, making it the only fully integrated player in Indian EV financing.
Alt Mobility plans to expand its fleet to 30,000 vehicles and achieve an approximate $100 million asset under management (AUM) by March 2027. It will also invest in expanding its digital asset management platform and standardising its battery technology.
KEY QUOTES:
“We are charged up for the next phase of growth, unlocking new markets and products, deeper ecosystem integrations with our partners to drive down the total cost of ownership of EVs.”
CEO & Co-Founder of Alt Mobility, Dev Arora
“India’s electric mobility story is one of immense scale and untapped potential — from financing models and battery recycling to infrastructure development and localized manufacturing. Our investment in Alt Mobility exemplifies our strategy of backing stellar founders developing fully integrated platforms that drive systemic change in critical sectors.”
Eva Yazhari, Managing Partner at Beyond Capital Ventures
