Updated February 7th, 2024 at 21:25 IST

Advance Mobility raises $2 million led by Finvolve

The company is in the scalable business of fleet operations at the platform of Uber

Reported by: Business Desk
Cab | Image:Cab
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Fundraise: Ridesharing mobility startup Advance Mobility has raised seed funding of $2 million led by Finvolve, the company said Wednesday.

Other participant includes India Accelerator. The valuation of the company has not been disclosed.

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Advance Mobility, which operates fleets on Uber, is involved in solving the problems of the entire value chain - from market players and customers to drivers. 

The funding round will help Advance Mobility expand its current footprint to other cities in India, thereby redefining peripheries in the ride-sharing mobility space. 

Mohit Jalan, Founder of Advance Mobility said, “With changing dynamics, mobility as a solution is emerging as a massive opportunity and Advance Mobility is fully committed to continue expanding in this direction”

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The company operates a fleet of 425 CNG cars in Mumbai and Pune.

 Apoorva Vora of Finvolve said, "Our decision to support Advance Mobility aligns with our commitment to fostering innovation and driving positive change in the mobility industry. We believe in the team's vision and are enthusiastic about the potential impact their advancements will have on the future of transportation."

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Published February 7th, 2024 at 21:25 IST