Advance Mobility Private Limited, a dynamic startup in the ridesharing mobility sector, has successfully closed a seed funding round of $2 million led by Finvolve, with participation from India Accelerator. While the valuation remains undisclosed, this funding signifies a significant milestone for the company.
Specializing in scalable fleet operations on the Uber platform, Advance Mobility is dedicated to addressing challenges across the entire value chain, from market players and customers to drivers. This approach revolutionizes fleet operations, paving the way for enhanced efficiency and customer satisfaction.
With this infusion of capital, Advance Mobility aims to expand its presence beyond Mumbai and Pune to other cities in India. Currently operating with a fleet of 425 CNG cars, the company has witnessed rapid growth since its pre-round stage.
Mohit Jalan, Founder of Advance Mobility, expressed gratitude to Finvolve and all investors, including India Accelerator, for their unwavering support. He emphasized the vast potential of mobility solutions in today’s dynamic landscape and reaffirmed the company’s commitment to growth and innovation.
Apoorva Vora of Finvolve echoed Jalan’s sentiments, highlighting the firm’s belief in Advance Mobility’s vision and its dedication to fostering innovation in the mobility industry. Vora emphasized the importance of supporting ventures like Advance Mobility that drive positive change and innovation in transportation.
This successful funding round has garnered positive interest from other funds, top family offices, and investors across the country, underscoring the confidence in Advance Mobility’s potential and its ability to shape the future of ridesharing mobility.
