Astranova Mobility Raises ₹60 Cr in Series A to Accelerate EV Asset Management Platform

EV asset management and leasing startup Astranova Mobility (formerly Electrifi Mobility) has raised ₹60 crore (approximately $6.4 million) in its Series A funding round led by IvyCap Ventures, with participation from Trucks Venture Capital. The round also saw continued backing from existing investors, the Asian Development Bank, and Advantedge Founders.

Founded in 2023 by Kunal Mundra, former CEO of Cars24, and Nikhil Aggarwal, cofounder of Grip Invest, Astranova Mobility is building a comprehensive platform to manage the lifecycle of electric vehicle (EV) assets.

The company provides end-to-end solutions, including leasing, maintenance, post-sales support, refurbishment, and redeployment of EVs for fleet operators and original equipment manufacturers (OEMs). By offering a full-stack approach, Astranova aims to simplify EV adoption while improving asset utilization and lifecycle efficiency.

The fresh capital will be used to strengthen the company’s engineering capabilities, enhance its data stack, and invest in advanced AI-driven solutions. These improvements are expected to optimize fleet performance, enable predictive maintenance, and deliver better insights to customers. Additionally, Astranova plans to expand its team to support its rapid growth and operational scaling.

As EV adoption accelerates in India and globally, fleet operators face challenges related to asset management, maintenance, and cost optimization. Astranova Mobility addresses these gaps by providing a structured and technology-driven ecosystem that reduces operational complexities and improves return on investment for EV assets.

A key differentiator for Astranova lies in its focus on the entire lifecycle of EVs—from acquisition to redeployment. This not only helps in maximizing asset value but also contributes to sustainability by extending the usable life of vehicles and reducing waste.

With strong backing from leading investors and a founding team with deep industry experience, Astranova Mobility is well-positioned to capitalize on the growing demand for EV infrastructure and services. As the company continues to scale, it aims to play a critical role in enabling the transition toward cleaner and more efficient mobility solutions.

This funding round reinforces investor confidence in Astranova’s vision to build a robust, tech-enabled EV ecosystem that supports the next phase of mobility transformation.