Alt Mobility has raised $6 million in funding co-led by Shell Ventures, Eurazeo, EV2 Ventures and Twynam; BuyEazzy has closed a $4.25-million Series A funding round led by Info Edge Ventures; while Jeh Aerospace has raised $2.75 million in seed funding through a strategic partnership with General Catalyst.
Alt Mobility snags $6m
Alt Mobility, a technology-enabled electric vehicle (EV) leasing and lifecycle management platform, on Thursday said it has raised $6 million in funding co-led by Shell Ventures, Eurazeo, EV2 Ventures, and Twynam.
The round also saw participation from UC Inclusive, Piper Serica, Pitchright, and LetsVenture in a mix of equity and venture debt.
The capital will be used for hiring an engineering team to scale its EV asset management platform FleetOS. The company would also be launching new verticals for fleets, including a drive-to-own model, parametric insurance, fleet depots (parking and charging), and battery refurbishment units.
The company further intends to accelerate its growth plans and embark on expanding its presence in over 20+ cities aiming to achieve an AUM of $100 million in the next two years.
BuyEazzy raises $4.25m
E-commerce firm BuyEazzy has closed a $4.25-million Series A funding round led by Info Edge Ventures with participation from existing investors Incubate Fund Asia and M Venture Partners.
This latest round of funding will be used to expand BuyEazzy’s presence to 40+ cities, onboarding 2 million+ offline users.
The company is currently operational in 10 tier 2/3 cities in Karnataka and Tamil Nadu and plans to reach 40+ cities shortly.
BuyEazzy, founded in May 2021 by Rahul Aggarwal and Hariher B and based in Mysore, caters to consumers’ beauty and wellness needs in tier 2+ cities.
Jeh Aerospace bags $2.75m
Aerospace and defence manufacturing startup Jeh Aerospace on Thursday said it has raised $2.75 million in seed funding through a strategic partnership with leading global VC firm General Catalyst.
Pratyush (Prat) Kumar, former president, Boeing India; and Dwarakanath (Dwaraka) Srinivasan, former CEO and MD, Airbus India, also participated in the round as angel investors.
“As one example of their ambition, they recruited our friend Prat Kumar, a former Boeing executive who until recently led Boeing’s iconic F-15 Program, to be a key mentor on their journey. Their strategic focus on addressing the critical challenges faced by Tier-2 and 3 aerospace suppliers in the US through leveraging India’s dynamic labour pool and manufacturing strengths in the India-US corridor is commendable,” said Anand Chandrasekaran, partner, General Catalyst.
The funds will be deployed to build infrastructure and fuel growth.