Fyn Mobility Secures USD 2.5 Million to Accelerate EV Fleet Expansion and Global Foray
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Chennai-based electric mobility startup Fyn Mobility has raised USD 2.5 million in a fresh funding round backed by prominent investors, including veteran market investor Vijay Kedia, Lloyd Balajadia—promoter of Philippines-based Lloyd Laboratories—and Rahul Bothra, Chief Financial Officer at Swiggy.
The startup, which operates on an EV-as-a-Service (EVaaS) model, plans to channel the newly raised capital into scaling up its electric vehicle fleet, enhancing its proprietary technology infrastructure, and entering international markets—particularly in Southeast Asia.
Fyn is also in advanced discussions with growth-stage investors to raise an additional USD 10 million to further support its overseas expansion and technology development plans.
Positioning itself as a full-stack EV services platform, Fyn Mobility counts major enterprise clients like Amazon, Flipkart, Blue Dart, and Porter among its partners. The company claims its offerings can reduce logistics costs by up to 20 per cent while enabling seamless fleet deployment and providing real-time, data-driven operational intelligence.
The fresh funding comes at a time when India's EV ecosystem is rapidly evolving, with last-mile delivery and shared mobility emerging as key growth segments.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
India's Tech Mahindra posts marginal first-quarter revenue miss
BENGALURU (Reuters) -India's Tech Mahindra reported a marginally lower-than-expected first-quarter revenue on Wednesday as clients tightened non-essential spending amid tariff-related uncertainty. Consolidated sales at India's fifth largest IT services firm by revenue rose 2.7% year-on-year to 133.51 billion rupees ($1.55 billion) in the June quarter. Analysts, on average, expected 133.83 billion rupees, as per data compiled by LSEG. ($1 = 85.9340 Indian rupees)
Entrepreneur
an hour ago
- Entrepreneur
Zeus Hygia, Deep Algorithm Solutions, and Zulu Club Raise Early-Stage Funding
The below startups have announced their latest funding rounds. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Zeus Hygia Raises USD 2.5 Mn from NABVENTURES Zeus Hygia has secured USD 2.5 million in Series A funding from NABVENTURES, the venture capital arm of NABARD. The funding will support expansion in North America and Southeast Asia, advance research and development, and accelerate the creation of innovative nutraceutical ingredients targeting pain relief, weight control, women's health, and healthy aging. "The investment affirms our scientific foundation and mission to develop clinically supported natural ingredients," said Dr Arunkanth Krishnakumar, Co-founder and CEO of Zeus Hygia. Founded in 2018 by Dr Krishnakumar and Shankaranarayanan Jeyakodi, Zeus Hygia produces patented, evidence-based herbal extracts tailored for pharmaceutical, nutraceutical, and over-the-counter markets. The company operates on a business-to-business model and supplies high-efficacy plant-based ingredients to wellness companies across more than 15 countries. Its product line includes eight proprietary branded ingredients such as BioSOLVE Curcumin, Grantria, and Stadice, with several others under development. Zeus Hygia holds nine patents and supports its innovations through over 20 scientific publications. Its technology platforms enable the delivery of safe and natural active ingredients. Zeus Hygia has established a unit in the United States and is entering Southeast Asia through strategic partnerships. The company expects international markets to contribute nearly 70 percent of its revenue within three years, signaling strong global demand for its plant-derived solutions. Deep Algorithm Solutions Raises INR 10.8 Cr from Unicorn India Ventures Cybersecurity and AI startup Deep Algorithm Solutions has raised Rs 10.8 crore in a seed funding round led by Unicorn India Ventures. The funds will be used to expand engineering and threat intelligence teams, boost go-to-market efforts in India and Southeast Asia, and enhance integration with enterprise platforms such as Azure AD and Okta. The capital will also support the development of its behavioral AI and fraud analytics engine. "We are solving complex challenges in identity security and fraud prevention using indigenous AI. This investment affirms our belief in continuous authentication and behavioral intelligence," said JP Mishra, Founder and CEO. Founded in December 2021 by JP Mishra, Deep Algorithm Solutions specialises in cybersecurity for digital financial systems. The company's key offerings include adapIDAI, an adaptive behavioral identity engine, and BotShield, which mitigates zero-day attacks, DDoS threats, and application-level vulnerabilities. In the past year, Deep Algorithm has completed deployments at a private bank, a government agency, and a hospital. It has secured a government patent, filed for an international one, and is currently in talks with banks and fintech firms in India and abroad. With plans to expand into Mumbai, Bengaluru, Kenya, South Africa, and the UAE, the startup is also working on channel partnerships and preparing to launch a SaaS model for mid-sized enterprises. Zulu Club Raises USD 250K from TDV Partners Zulu Club has secured USD 250,000 in pre-seed funding from TDV Partners to expand its presence across Delhi NCR. The Gurgaon-based startup will deploy the capital to strengthen its logistics infrastructure, enhance personalisation features, and build deeper partnerships with local retailers. "We're building Zulu Club to reintroduce trust and experience into fashion shopping," said Adarsh Bhatia, founder of Zulu Club. "Consumers want speed, but not at the cost of confidence." Founded in 2024 by Adarsh Bhatia, Zulu Club offers a hyperlocal shopping experience that connects users to nearby malls and outlet stores via its app. The service allows customers to receive curated Try-at-Home kits with multiple items, try them on at their convenience, and pay only for what they keep. Zulu Club blends AI-powered curation with human-assisted personal shopping. Its flagship 100-minute delivery model targets millennial and Gen Z users who prioritize convenience and personalisation. The platform aims to reduce return rates and increase average order value by allowing consumers to try items before purchasing. The startup is currently operational in Gurugram and plans to expand across key neighborhoods in Delhi NCR. Its model addresses major challenges in online fashion such as low trust, poor fit, and high return rates, while also helping local retailers reach a broader customer base.
Entrepreneur
an hour ago
- Entrepreneur
GCC Hiring Grew 8-10% QoQ in Q1FY26 Driven by Skill-First Approach: Quess
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's global capability centre (GCC) sector marked a steady return to growth in Q1FY26 with hiring volumes increasing by 8-10 per cent quarter-on-quarter after a muted Q4 driven by a skill-first approach, according to Quess Corp's latest report titled 'India's GCC Tech Talent Landscape'. This improvement is not just a rebound, it reflects a more focused and priority-led approach to talent investments. Rather than scaling teams broadly, organizations are now hiring selectively for skills that drive innovation and long-term value. The report offers an in-depth look at how GCCs in India are recalibrating talent strategies to stay ahead in a tech-driven, innovation-led global market. As global enterprises double down on automation, AI, and next-gen infrastructure, India's GCCs are seeing a clear pivot from headcount expansion to capability-centric hiring. In Q1FY26, India's GCC sector saw a strategic hiring shift, with high-growth verticals like BFSI, Manufacturing, Automotive & Energy, and Technology & Hardware driving demand. BFSI and Manufacturing sectors each saw a 2 per cent share increase, reaching 20 per cent and 16 per cent respectively, while Technology & Hardware grew by 1 per cent to touch 13 per cent, fuelled by investments in AI, automation, and digital modernisation. In contrast, traditional sectors like Hospitality, Travel & Logistics, Construction & Engineering, and Healthcare & Pharma witnessed a dip in hiring share. Demand in BFSI was led by functions such as AI-led credit risk, embedded finance, cybersecurity, and digital lending. In Manufacturing and Automotive, hiring was fuelled by initiatives around smart factories, industrial IoT, EV platforms, and predictive maintenance. Similarly, Technology & Hardware showed robust demand for cloud engineering, chip design, and IoT hardware development. In Q1FY26, India's GCCs continued to face significant talent shortages in high-impact digital roles, particularly in AI, data, and platform engineering. AI, Data & Analytics recorded the steepest supply gap at 42 per cent, with critical demand for skills in Generative AI, large language models (LLMs), and machine learning operations (MLOps). Platform Engineering followed closely with a 38 per cent gap, as organizations sought DevOps, Kubernetes, and multi-cloud integration expertise to modernize infrastructure. Cloud and Infrastructure Engineering showed a moderate gap of 25-27 per cent. Cybersecurity and software engineering also faced noticeable pressures, with 15-22 per cent gaps due to increasing needs for Zero Trust architecture, mobile development, and DevOps pipelines. In contrast, traditional domains like ERP, ITSM, and digital operations witnessed stable supply, reflecting a market shift away from legacy IT functions toward next-gen digital capabilities. Tier-II Cities Clock Faster Growth In Q1FY26, tier-I cities like Bengaluru, Hyderabad, and Pune continued to anchor GCC hiring, led by specialization in AI, cloud, and automotive tech respectively. Bengaluru retained the top spot with a 29 per cent share of demand, while Pune (10.6 per cent QoQ) and Chennai (9.4 per cent QoQ) showed faster growth driven by ERP and R&D roles. Meanwhile, tier-II cities such as Coimbatore (58 per cent), Kochi (47 per cent), and Ahmedabad (42 per cent) posted significantly higher growth rates. However, due to limited mid-senior talent availability, nearly 50 per cent of complex roles in these cities are being redirected back to tier-I hubs, indicating a readiness gap despite promising momentum. The recalibrated hiring pattern suggests that tier-1 cities will continue to house high-priority, innovation-led mandates, while tier-II hubs will scale rapidly for cost-sensitive, modular, or support-driven roles Compensation trends across India's GCC ecosystem showed signs of stabilization, with salary growth in premium tech roles moderating to 3-5 per cent quarter-on-quarter. High-scarcity positions such as Zero Trust Security Engineers, AI Observability experts, and FinOps Specialists continued to command top-tier packages, especially in tier-I cities like Bengaluru. Tier-II cities, however, continue to face a talent maturity gap, with limited availability in advanced AI and cybersecurity roles, keeping salaries comparatively lower. Mid-premium roles such as senior SDETs, cloud-native developers, and data engineers also saw steady 3-4 per cent increases, consolidating in the ₹30-38 lakh range. The compensation plateau signals a maturing market that increasingly values functional complexity and digital depth over volume. Kapil Joshi, CEO – IT Staffing, Quess Corp said, "India's GCC landscape is undergoing a structural shift, one that prioritizes capability over sheer scale. Q1FY26 marked a steady return to growth, with hiring volumes rising by 8-10 per cent QoQ after a muted Q4FY25. This growth was driven by hiring in tier-II cities and high-impact sectors like BFSI, Manufacturing, and Tech Hardware. Deep-tech roles like AI, data science, and platform engineering face over 40 per cent talent shortfalls, slowing hiring cycles and limiting team scalability. The sustained demand for niche skills in AI, cloud, cybersecurity, and data engineering reflects a market shift, from just hiring talent to enabling transformation. It's no longer about filling positions, but about building the workforce that powers enterprise innovation and growth."
