INDEANTA raises $150,000 in Bridge Round from Ivy Growth
Delhi, June 02: Electric mobility start-up INDEANTA raises $150,000 from Ivy Growth Associates and a network of Angel Investors. The round is led by Prateek Toshniwal, Mehul Shah, Nine Spar& others. The fundraise represents a bridge round in their ongoing Pre-Series A round.
Having started operations in Dec 2020, Indeanta began with its in-campus mobility services. The brand was India’s first & one of the only companies globally to offer multi-modal electric ride-hailing and ride-sharing services for university students. These services include electric buggies, electric motor scooters, electric bicycles for the in-campus commute and electric cars. All these services can be accessed through their mobile application.
Indeanta has received attention from prominent E-Commerce and logistics companies across India and is in the process of signing MoUs to provide upwards of 15,000 three-wheelers and light commercial trucks used for deliveries across multiple cities in India over the next 3 Years.
“At Indeanta, we firmly believe that Electric Mobility as a Service (EMaaS)is a vastly underserved sector. The Electric Mobility space is crowded with OEMs, component suppliers and technology enablers; however, the service industry is where the change is taking place. One cannot go without the other. We are glad the investors have extended their trust, financial support and mentorship towards us. This certainly will help us achieve our ambitious plans in the pipeline,” said Dr. Aaron D’souza, the founder of Indeanta.
“Considering the EV space growth and the In campus demand in institutes, INDEANTA will be a company to look for in the future. Dr. Aaron D’souza is one of the most passionate founders and will be leading this journey in the decade ahead,” said Prateek Toshniwal, Cofounder, IVY Growth Associates.
The funds raised will be used to hire talented and driven people to help expand the business both in India and abroad. A part of the fund will also be used to strengthen the technology platform, on-board OEMs with our leasing plans in order to continue staying asset-light and, most importantly, to focus on innovation and improvements with regard to battery technology, V2G(Vehicle to grid technology) and smart charging infrastructure.
The company claims to have a presence in 6 Indian states and is looking at revenue close to USD 2 Million for this financial year.