Philippines-based green logistics company Mober has announced raising $6 million in funding from Clime Capital, the Singapore fund manager focused on low-carbon transition.
The fresh capital will be used to increase Mober’s fleet of electric vehicles (EV) to 238 from the current 60 and help establish a new 3,000 square metre charging facility by early 2025, per the announcement.
Clime Capital made the investment, in equity and convertible notes, through its Southeast Asia Clean Energy Facility II (SEACEF II).
“This partnership not only enhances our reputation but also accelerates our progress toward achieving our ambitious sustainability goals,” Mober CEO Dennis Ng said.
Mober, launched in July 2015, sources its EVs directly from original equipment manufacturers.
The latest funding comes about four months after Mober raised $2 million in a seed funding round led by RT Heptagon Holdings (RTHH) to integrate more EVs into its fleet.
The round helped Mober expand its EV fleet to 60. It has also collaborated with major companies such as Kuehne + Nagel, Nestle, SM Appliance Center, and Maersk to electrify their logistics operations.
With the fresh funding, Mober said it will place pocket charging points across Luzon’s northern and southern regions.
The investment was carried out five months after Clime Capital announced the first close of SEACEF II at $127 million.
The fund secured commitments from Allied Climate Partners, Australian Development Investments, the Global Energy Alliance for People and Planet, and Impact Assets, and several other investors.
Like SEACEF I, which raised $15 million in 2021, SEACEF II will invest in renewable energy generation, energy efficiency, electric mobility, and electrical grid businesses at their early-stage, high-risk development phases.
SEACEF II will also offer additional capital to accelerate the scale-up of its portfolio companies. It will invest in Vietnam, Indonesia, and the Philippines.
The Philippines ranked second in Southeast Asia in May in terms of funds raised as startups in the country secured $30.1 million from six deals during the month, according to proprietary data collated by DealStreetAsia.
Last month, Humble Sustainability, a Philippines-based climate-tech startup, announced raising additional funding to expand its operations and scale its business in the country.
The startup did not disclose the amount it raised but said the latest funding round was anchored by Asia-focused venture capital firm Gobi Partners through the Gobi-Core Philippine Fund (Gobi-Core).