.png){kind=logo}
Astranova Mobility, a Gurgaon electric vehicle (EV) startup, has successfully raised Rs. 60 crore. The money was raised in a Series A funding round led by IvyCap Ventures. IndigoEdge served as the financial advisor for this successful deal.
Other investors also joined in, including the Asian Development Bank, Advantedge Founders, and Trucks Venture Capital from Silicon Valley. The company shared the news on April 10, 2026, marking a big step forward for its growth in the green energy sector.
Kunal Mundra started Astranova Mobility in 2023 with help from Grip Invest. The Gurgaon-based startup focuses on the commercial EV market by helping businesses manage their fleets. It also offers leasing, maintenance, and smart fleet technology.
Since it began, the EV business has helped put over 25,000 electric vehicles on the road. These vehicles range from small two-wheelers to large heavy-duty trucks. So far, the company has managed deployments totalling Rs. 360 crore.
Astranova will want to grow by a factor of 5 over the next 18 months. A large part of the funds will go toward improving their engineering and AI tools. By leveraging better data and artificial intelligence, the firm hopes to make EV financing easier and faster for fleet owners nationwide.
Also Read: JSW Motors Partners with Dassault Systèmes, Invests $3 Billion to Boost EV Production in India
The leadership team at Astranova has set a bold target for the next four years. It would be deploying $1 billion in electric-vehicle assets. CEO Kunal Mundra believes that working with IvyCap Ventures will offer the technical support and capital Astranova needs to reach these goals. Moreover, having global experts like Trucks Venture Capital on board will help the EV startup bring world-class ideas to the Indian market.
Investors are excited about Astranova because it fills a major market gap. Many fleet operators in India find it hard to get the right financing for electric vehicles. IvyCap Ventures noted that Astranova’s focus on data and strong execution makes it a top choice for scaling sustainable transport. The global energy crisis stemming from the ongoing US-Iran war has prompted more businesses to switch to EVs. Astranova is well-positioned to lead the way.
