Magazine

Last edition
november-december 2024

Home › Investment & Trading ›EV Financing Platform Ohm Procures INR 3 Crores in Financing Supported by Antler India

EV Financing Platform Ohm Procures INR 3 Crores in Financing Supported by Antler India

Ohm Mobility will deploy the fund to strengthen what it was the first technology platform to connect EV players and financial institutions.

May 02, 2023. By EI News Network

The entity will use the money on technology platform connecting EV players and financial institutions.

Ohm Mobility, which funds electric vehicles (EV), has procured INR 3 crore in pre-seed financing by venture capital company Antler India.

Ohm Mobility will put to use the money to boost what it was the first technology platform to link EV companies and financial institutions.

The EV industry is developing and propelling very quickly and access to proper capital continues to be a hindrance in this sector.

The EV funding market in India is estimated to be around USD 2 billion and is anticipated to increase to USD 50 billion a year by 2030.

Moreover, data from the Electric Mobility Financiers Association of India grows that in the previous year, the number of EV fund raise players has only increased from 4 to 13.

Ohm which was established in 2020 by Nikhil Nair, facilitates access to institutional fund for EV players in India whereas facilitating lenders to explore, monitor and put to use capital to EV companies.

Antler offices located in 25 cities throughout six continents, comprising Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney.

The company has assisted create and invested in over 600 start-ups a wide spectrum of industries and technologies, with the target of backing more than 6,000 by 2030.

Tags:

Financial institutions

Capital

EV Sector

EV fleets