Wedoany.com Report-Oct 10, New Delhi: UrjaMMobility, a start-up specializing in battery leasing for commercial electric vehicles(EVs), has raised 100 crore in its Pre-Series A funding round through a

combination of debt and equity financing. The round was led by Mufin Green Finance Limited and Hindon Mercantile Limited.The fresh capital will be used to scale UrjaMobility's operations, focusing on its unique pay-per-use battery leasing model and its presence in the e-mobility sector.

The company's pay-per-use model allows customers to lease batteries on a per-kilometer basis, converting traditional CapEx into Smart OpEx.This model provides cost-effective and flexible solutions for EV adoption, a key focus for the company as it expands across India.

“This funding round marks a major milestone for us," said Pankaj ChopraFounder and CEO, UrjaMobility, “Our goal is to revolutionize energy-consumption in the e-mobility sector while expanding our presence across India, The pay-per-use model we've introduced makes e-mobility more accessible, and this funding will help us strengthen our retailpresence and provide solutions to a wider audience.

UrjaMobility achieved a significant milestone in its first month of operations, delivering 150 kWh of energy per day under its Energy-as-a-Service (EaaS) model, Since then, the company has scaled up to provide45 MWh of energy per day, reflecting its rapid growth in response to increasing demand for sustainable energy solutions.