Grip Invest’s Nikhil Aggarwal, ex Cars24 India CEO Kunal Mundra set up EV solutions provider
Grip Invest founder Nikhil Aggarwal and former Cars24 India chief executive Kunal Mundra have joined hands to set up Electrifi Mobility, a full stack commercial electric vehicle (EV) solutions provider.
The new entity offers planning, acquisition, asset selection, deployment, utilisation, maintenance, optimisation, renewal, decommissioning and disposal-related services. It partners with lenders, fleets and original equipment manufacturers to carry out these services.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Product ManagementVisitGrip Invest holds a significant share of equity in Electrifi Mobility, while Mundra retains the majority, Aggarwal told ET. The venture plans to close its seed round of financing by the first half of November, Aggarwal said, but declined to share other details.
How it works
Founded in 2020 by Aggarwal and Vivek Gulati, Grip Invest is a lease finance platform where individual investors can purchase and lease assets to companies. Retail investors get on the platform, co-own assets such as EVs and commercial properties, and lease these assets to those who want to use them.
Currently, about 30% of the assets in the Securities and Exchange Board of India-registered (SEBI)-registered Grip Invest’s portfolio are EVs.
Aggarwal told ET that Grip Invest’s users will become retail investors on Electrifi Mobility’s platform and lease their assets to users. Electrifi Mobility will take care of due diligence,
