Urja Mobility, an emerging player in the electric vehicle (EV) battery solutions sector, has raised INR 100 crore in a mix of debt and equity to fuel its expansion in India’s rapidly growing EV ecosystem. The funds will be deployed to broaden the startup’s retail presence, enhance its product portfolio, and scale operations to meet the rising demand for EV batteries.

Founded in 2023, Urja Mobility operates on an innovative pay-per-use model, leasing batteries to both individual EV users and fleet operators. This leasing model is designed to reduce the upfront costs typically associated with EV ownership, making electric vehicle adoption more affordable and accessible for a broader consumer base. The company’s flexible battery solutions cater to a range of users, from individual EV owners to commercial fleets seeking cost-efficient and sustainable energy options.

In addition to the current round, Urja Mobility has announced plans to raise an additional INR 250 crore in the first quarter of 2025. The upcoming funding round will be pivotal in expanding the company’s retail network across India, enabling it to further establish itself as a key player in the burgeoning electric mobility sector.

As the Indian government continues to promote EV adoption through various incentives and supportive policies, Urja Mobility is well-positioned to benefit from the growing demand for reliable battery leasing services. The company aims to strengthen its role within the EV infrastructure space, contributing to carbon emission reduction by making electric vehicles a more accessible and affordable option for the masses.

The infusion of capital and the planned future funding round will allow Urja Mobility to accelerate its growth and meet the increasing demand for battery solutions in India’s evolving EV landscape. The company’s vision aligns with the broader movement towards sustainable energy and the electrification of transportation in India.

Key Highlights:

• Funding Raised: Urja Mobility secures INR 100 Cr in a mix of debt and equity to scale EV battery operations.
• Innovative Model: The company leases batteries via a pay-per-use system, making EV adoption more affordable.
• Future Plans: Urja aims to raise an additional INR 250 Cr by early 2025 to expand its retail network across India.
• Sector Impact: Positioned to grow in India’s emerging EV ecosystem, supported by government policies and the rising demand for sustainable energy solutions.