17-05-2025
Fyn Mobility Secures USD 2.5 Million to Accelerate EV Fleet Expansion and Global Foray
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
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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.
