EV financing platform, Ohm Mobility on Tuesday raises Rs 3 crore in a pre-seed round led by Antler India. The round also saw participation from Blume Founders Fund and other angels such as Sagar Gubbi (Ecoforge), Anshuman Bapna (Terra.do), Mathew Chako (Spice Route Legal), and Karishma Menon. 

The funds will be used to build a technology platform in the sector. Ohm’s technology platform will act as a critical bridge, connecting EV players with a host of financial institutions. Ohm is also backed by Catalyst Fund and angel investors such as Kunal Shah. 

Founded in 2020 by Oxford Alum, Nikhil Nair, Ohm is an end-to-end EV-focused financing platform. 

The current EV financing market in India is estimated to be roughly USD 2 billion and is expected to grow to USD 50 billion a year market by 2030. However, data from the Electric Mobility Financiers Association of India shows that in the last year, the number of EV finance players has only grown from 4 to 13.

Talking about the fundraise, Nikhil Nair, Founder and CEO said, “We are thrilled to receive support from one of the best early-stage investors in India. We are confident we have a scalable business

The funding in Ohm marks Antler’s entry into the EV sector in India. Talking about the investment, Vineet Agarwal, Investments Director at Antler said, “As EV penetration in India goes from 3 per cent to 50 per cent in certain categories by 2030, financing will play a crucial role in enabling this. There is currently no other marketplace model of this kind in India and we are thrilled to back Nikhil and the Ohm team in their journey.”