ALT Mobility Expands EV Leasing with $10 Million Funding
Electric vehicle leasing company ALT Mobility has raised $10 million in a Series A funding round led by Eurazeo. Existing investors, including Shell Ventures, Twynam Earth Fund, and EV2 Ventures, also participated.
The funding will help ALT Mobility grow its fleet to 30,000 vehicles and manage Rs 800 crore in assets by March 2026. The funds will also support upgrades to its digital asset management platform and new offerings, such as Battery-as-a-Service (BaaS) and "drive-to-own" leasing options for drivers.
Founded in 2021 by Dev Arora and his team, ALT Mobility provides end-to-end solutions for EV leasing, including servicing, charging, and fleet monitoring. With operations in 20 cities and a fleet of 10,000 vehicles, the company focuses on improving profitability for logistics businesses while reducing carbon footprints.
Blitzscale Technology Strengthens ShopDeck with Rs 65.2 Crore
Blitzscale Technology, the parent company of ShopDeck, has raised Rs 65.2 crore ($7.85 million) in an extended Series B1 round. Bessemer Venture led the funding, with participation from Chiratae Ventures, Elevation Capital, VH Capital, and Reed India.
ShopDeck offers tools to help businesses create e-commerce stores, manage logistics, and handle payments. Competing with platforms like Shopify and Shiprocket, ShopDeck will use the funds to enhance marketing, expand its offerings, and accelerate growth.
Founded by Harmin Shah and Rishabh Verma, Blitzscale transitioned from social commerce platform WMall to ShopDeck in 2022. The pivot has been supported by strong investor backing. In FY23, the company recorded Rs 19.4 crore in revenue, with 93% of earnings from shipping and marketing services.
Driving Industry Transformation
ALT Mobility and Blitzscale Technology are pioneering innovation in their fields. ALT Mobility is advancing EV leasing to make sustainable transport accessible, while Blitzscale is empowering businesses with cutting-edge e-commerce solutions. Their latest funding rounds highlight the confidence of investors in their growth potential.