About Advance Mobility
Advance Mobility is a company based in Mumbai (India) founded in 2023 by Mohit Prakash Jalan.. Advance Mobility has raised $5 million across 3 funding rounds from investors including Capri Loans, Madhu Silica and India Accelerator. The company has 1 employees as of March 23, 2024. Advance Mobility offers products and services including Fleet Management Service, Corporate Rentals, and Long-term Leasing. Advance Mobility operates in a competitive market with competitors including EV Mobility, Ecov, CovEvent, Fstr and CANGO Mobility, among others.
- Headquarter Mumbai, India
- Employees 1 as on 23 Mar, 2024
- Founders Mohit Prakash Jalan
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
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- Legal Name Advance Mobility Private Limited
- Date of Incorporation 25 May, 2022
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$4.5 K (USD)0as on Mar 31, 2023
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Net Profit
$-678.25 (USD)0as on Mar 31, 2023
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EBITDA
$-497.9 (USD)0as on Mar 31, 2023
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Total Equity Funding
$5 M (USD)
in 3 rounds
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Latest Funding Round
$3 M (USD), Seed
Aug 31, 2024
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Investors
Capri Loans
& 38 more
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Employee Count
1
as on Mar 23, 2024
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Products & Services of Advance Mobility
Advance Mobility offers a comprehensive portfolio of products and services, including Fleet Management Service, Corporate Rentals, and Long-term Leasing. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Offers scalable fleet management for business efficiency and sustainability.
Provides flexible vehicle rentals tailored to corporate needs.
Delivers cost-effective long-term vehicle leasing solutions.
Funding Insights of Advance Mobility
Advance Mobility has successfully raised a total of $5M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $3 million completed in August 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Seed — $3.0M
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First Round
First Round
(11 Dec 2023)
- Investors Count 39
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2024 | Amount | Seed - Advance Mobility | Valuation | India Accelerator , Finvolve | |
| Apr, 2024 | Amount | Seed - Advance Mobility | Valuation |
investors |
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| Dec, 2023 | Amount | Seed - Advance Mobility | Valuation | Finvolve |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Advance Mobility
Advance Mobility has secured backing from 39 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Capri Loans, Madhu Silica and India Accelerator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Startup acceleration, funding, and mentorship services are delivered by India Accelerator.
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Founded Year | Domain | Location | |
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Venture capital funding, wealth management, and startup investment services in India.
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Founded Year | Domain | Location | |
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Early-stage investments in Fintech, SaaS, and Deep Tech sectors with a focus on capital and advisory support.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Advance Mobility
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Advance Mobility
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Advance Mobility Comparisons
Competitors of Advance Mobility
Advance Mobility operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as EV Mobility, Ecov, CovEvent, Fstr and CANGO Mobility, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric car-sharing services are provided for residential properties.
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| domain | founded_year | HQ Location |
Carpooling infrastructure is facilitated via digital and physical networks.
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| domain | founded_year | HQ Location |
White-label carpooling software is offered for events and businesses.
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| domain | founded_year | HQ Location |
B2B carpooling platform is offered for employee ride sharing.
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| domain | founded_year | HQ Location |
Offers software for real-time vehicle data, fleet efficiency, and telematics integration services.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Advance Mobility
Frequently Asked Questions about Advance Mobility
When was Advance Mobility founded?
Advance Mobility was founded in 2023.
Where is Advance Mobility located?
Advance Mobility is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Advance Mobility a funded company?
Advance Mobility is a funded company, having raised a total of $5M across 3 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Dec 11, 2023.
How many employees does Advance Mobility have?
As of Mar 23, 2024, the latest employee count at Advance Mobility is 1.
What is the annual revenue of Advance Mobility?
Annual revenue of Advance Mobility is $4.5K as on Mar 31, 2023.
What does Advance Mobility do?
Advance Mobility was founded in 2023 and operates as a car rental provider in the mobility sector. Services are centered on vehicle rentals for personal and business use, with operations based in Mumbai, India. The company focuses on accessible transportation solutions within the local market, supported by a founder-led structure. Expansion plans are aligned with urban demand in India, ensuring reliable fleet management and customer support.
Who are the top competitors of Advance Mobility?
Advance Mobility's top competitors include Karos, EV Mobility and Ecov.
What products or services does Advance Mobility offer?
Advance Mobility offers Fleet Management Service, Corporate Rentals, and Long-term Leasing.
Who are Advance Mobility's investors?
Advance Mobility has 39 investors. Key investors include Capri Loans, Madhu Silica, India Accelerator, Ratna Group, and Anubhuti Trust.
What is Advance Mobility's valuation?
The valuation of Advance Mobility is $27.03M as of Aug 2024.