Indian startup Advance Mobility Private Limited has raised $3 million in a recent funding round led by investors including India Accelerator and Finvolve. 

The company, known for optimising fleet operations for firms like Uber will use the financial backing to strengthen its present business, as well as expanding market presence. 

Advance Mobility to Reshape Transport Solutions

"We are incredibly thankful to India Accelerator, Finvolve and all our investors for their tremendous support. 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," said Mohit Jalan, founder of Advance Mobility. 

Apoorva Vora of Finvolve, also shared his excitement and said that the financial backing could help the mobility startup to push the boundaries of innovation in the sector. 

"We are excited to support Advance Mobility as they push the boundaries of innovation in the mobility industry. Our investment aligns with Finvolve's mission to back ventures that create meaningful, positive change. We have great confidence in the team's vision and believe their advancements will shape the future of transportation," added Vora. 

The fund raising comes at a time when the Indian transportation sector is facing multiple challenges including adapting to technology and finding ways to reduce emissions. 

Recently, ridesharing startup Yulu announced plans to deploy 100,000 e-vehicles by 2025, after obtaining an upcoming financing valyed at $100 million. 

Advance Mobility: All You Need to Know

Founded in 2023, operates a fleet of CNG vehicles primarily on the Uber platform, affirming its commitment towards sustainability. 

This is not the firm time that Advance Mobility is securing funds from existing investors. 

Earlier this year, the firm closed a $2 million round with participation from the same investors. 

According to the company's website, it has over 500 vehicles under its belt, along with the service of 1,500 drivers. 

Advance Mobility currently has strong presence in Mumbai and Pune, and the company could use these financial backing to expand its presence to other major cities in India.