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EV financing platform Ohm Mobility has raised ₹3 crore pre-seed funding led by Antler India.
The round also saw participation from Blume Founders Fund and other prominent angels such as Sagar Gubbi (Ecoforge), Anshuman Bapna (Terra.do), Mathew Chako (Spice Route Legal), and Karishma Menon.
Ohm is also backed by Catalyst Fund, a fintech and climate finance accelerator, and angel investors like Kunal Shah.
The funds will be used to build and scale a technology platform in the EV financing sector. Ohm’s technology platform will act as a critical bridge, connecting EV players with a host of financial institutions, it said.
Nikhil Nair, Founder and CEO said, “The backing from Antler and Blume Founder Fund is a great testament to our mission and what we are aiming to do at Ohm. The EV industry is growing and evolving very quickly, and access to appropriate capital continues to be a barrier in this sector. We truly believe there is a need for a technology platform to play a role in democratising financing for EVs in India.”
Ohm aims to facilitate debt and leasing options to both new entrants as well existing businesses that are switching to clean mobility. At Ohm, the aim is to become a one-stop shop for all EV financing needs and be an important catalyst in driving India’s clean mobility transition, Nair added.
The technology platform which went live this April 2023 is built to onboard any business in the EV market that is looking to raise capital from financial institutions. This could be OEMs, fleet operators, logistics providers, battery companies, or any other EV company.
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