Chennai headquartered Fyn Mobility, which operates India’s largest fast charging fleet and has built India’s first vertically integrated EV-as-a-Service (EVaaS) company, has raised $2.5 million in a fresh funding round. This round was led by Vijay Kedia (ace public market investor), Lloyd Balajadia (promoter of Philippines Pharma Major Lloyd Laboratories), and Rahul Bothra (Swiggy CFO). The firm intends to use this capital to accelerate fleet growth. A part of the funds will be used for expanding its geographic footprint and tech platform.
“We’re building the future of mobility. Fyn’s vision is to become the world’s largest tech enabled supplier for the mobility sector. This has the potential to become larger than most of the aggregator and marketplace models in the market. Fyn is building out a unique and scalable business model which will redefine the mobility industry for good with a tech plus execution game at a fraction of the funding raised by other startups”, said Visakh Sasikumar, Co-Founder and CEO of Fyn.
With over 1,000 Electric Vehicles in the fleet, Fyn provides jobs to 1,500 people and plans to expand its fleet to over 10,000. The company has already achieved profitability in key cities like Bangalore, Chennai, and Hyderabad. Fyn’s fleets are charged in just 15 minutes and turned around for deployment in under 30 minutes. The company works with blue-chip customers including Amazon, Flipkart, Blue Dart, and Porter, offering up to 20% logistics cost reduction and data-driven operational insights.
Fyn is also gearing up for international expansion, with a focus on Southeast Asian markets. The firm is currently in discussions with growth investors to secure a $10 million funding round for international expansion and scaling up its technology.
Published – May 17, 2025 12:27 am IST
