INDEANTA Raises $150,000 in Bridge Round

Start-up in electric mobility IvyGrowth Associates and a network of Angel Investors contribute $150,000 to INDEANTA. Prateek Toshniwal, Mehul Shah, Nine Spar, and others are leading the round. The funding is a bridge round to their current Pre-Series A round.

The funds raised will be utilised to hire skilled and driven individuals to assist the company to expand both in India and beyond. A portion of the investment will also be utilised to expand the technological platform, onboard OEMs with our lease plans in order to remain asset-light, and, most significantly, to work on battery technology, V2G, and smart charging infrastructure innovation and upgrades.

The company claims to have a presence in six Indian states and expects revenue of around $2 million this fiscal year.Indeanta commenced operations in December 2020, with in-campus mobility services.

"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.