India’s First and
Most Successful
Mobility Fund

Rapido was founded in 2015 as theKarrier - an intra-city logistics aggregator.

We worked with the company as they pivoted to a bike-taxi marketplace, and partnered with them in 2016 as lead investors in their seed round.

Rapido is an Indian ride-hailing platform that connects riders with local drivers, called captains, for bike taxis, autos and cabs, and also handles parcels. It runs Ownly, a zero-commission food delivery service, and completes around 8 million rides a day.

Exponent Energy was founded in 2020.

We partnered with the team and invested in their first funding round in 2021.

Exponent Energy builds rapid-charging batteries, chargers and software that fully charge electric vehicles in 15 minutes starting with commercial vehicles like three-wheelers and buses, with cooling handled by the charger rather than the vehicle. Its Exponent OTO kit retrofits L5 three-wheelers to electric and enable the same 15-minute charging solution.

Moonrider was founded in 2023.

We partnered with the company in 2024 as their lead investors during their first funding round.

Moonrider makes electric tractors starting with B2B customers, designed in-house from the battery to the software. Its 27, 50 and 75 HP range aims to cut diesel and maintenance costs, and each tractor is connected, with an app for fleet tracking.

Zeno was founded in 2022.

We partnered with the company in 2024 during their seed round.

Zeno builds electric motorcycles, including the Emara, for commercial riders in emerging markets, starting in East Africa. Riders buy the bike and pay for batteries by subscription or per use through Zeno's swap and charging network, with India next.

Chalo was founded in 2015 as ZopHop.

We partnered with the company in 2017 as the company changed its name to Chalo.

Chalo is a bus-tech company. Its app gives riders live bus tracking, mobile tickets and passes, and the Chalo Card for tap-to-pay fares; its ticketing platform helps bus operators cut cash leakage. It also runs Chalo Bus, a premium AC service in Mumbai.

Baaz (formerly Electorq) was founded in 2019 by a team of IIT Delhi engineers who worked on Formula-E race cars.

We worked closely with the team from inception to build a commercially viable platform of low-speed EVs for fleet use cases, and led the company's first funding round in 2019.

Baaz builds low-speed electric scooters with swappable batteries, runs its own battery-swapping network, and offers scooters on subscription to gig and delivery workers. Riders get an affordable EV, and rental partners get vehicles and fleet tools that make their business profitable.

Astranova Mobility (formerly Electrifi Mobility) was founded in 2023.

We partnered with the company in 2024, as lead investors in their seed round.

Astranova Mobility finances, leases and manages electric vehicles for fleet operators. It sources vehicles from approved OEMs, offers flexible financing, and handles maintenance, refurbishment and redeployment of second-life assets. Its NBFC arm, NovaFusion Capital, adds direct lending.

Park+ was founded in 2019.

We partnered with the company in 2021

Park+ is an all-in-one app for India's car owners, covering FASTag, parking, e-challans, car insurance and loans, and other everyday car needs. Park+ for Business supplies smart-parking, access-management and number-plate-recognition systems.