Alt Mobility secures equity investment from Beyond Capital Ventures

Alt Mobility, a New Delhi-based ‘electric vehicle as a service’ company that specialises in leasing and asset management of electric vehicles for commercial fleets, has secured an equity investment from Beyond Capital Ventures (BCV), an emerging markets venture capital fund. BCV joins Alt Mobility’s cap table alongside other investors, including Shell Ventures, Eurazeo, and EV2 Ventures.

Alt Mobility has a fleet of 13,000 vehicles and assets under management of over $30M across 30 Indian cities, leased to fleet operators and drivers. The company aims to expand its fleet to 30,000 vehicles and achieve an ~$100M asset under management (AUM) by March 2027. It will also invest in expanding its digital asset management platform and standardising its battery technology.

While India’s EV sector has achieved commendable progress, several structural gaps present long-term, scalable opportunities for investors willing to think beyond vehicles. 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 is bridging these gaps by bringing together all key players — vehicle manufacturers, lenders, fleet operators, charging point operators and drivers — on one platform. Alt Mobility not only leases vehicles but also offers a complete solution that caters to everything from vehicle standardization and financing to aftersales management and maintenance. Alt Mobility’s 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 a fully integrated player EV financing.

Eva Yazhari, Managing Partner at Beyond Capital Ventures, said, “Our investment in Alt Mobility exemplifies our strategy of backing stellar founders developing fully integrated platforms that drive systemic change in critical sectors.”

Dev Arora, CEO and co-founder of Alt Mobility, said, “We are charged up for the next phase of growth, unlocking new markets and products and deeper ecosystem integrations with our partners to drive down the total cost of ownership of EVs.”

Also read: Alt Mobility expands EV leasing to 4W passenger transport