GrowthCap Ventures, an early-stage VC firm, has entered the mobility sector with its first investment in mobility startup Advance Mobility.
GrowthCap Ventures stated in an announcement that the financing demonstrates its intention of promoting innovation and accelerating growth within the quickly changing mobility market, without providing the funding amount.
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Pratekk Agarwaal, Founder and General Partner at GrowthCap Ventures, commented, “As India’s infrastructure and transportation sectors undergo significant transformations, fueled by the government’s robust initiatives and investments, the potential for innovative mobility solutions is unprecedented. The Union Minister of Road Transport and Highways, Shri Nitin Gadkari, has initiated several projects that are set to revolutionise India’s mobility landscape.”
According to Advance Mobility, its main goal is to solve the problems that drivers, consumers, and market participants in the mobility sector are facing.
Agarwaal declared last year that GrowthCap Ventures, a category II alternative investment fund (AIF) registered with SEBI, had been launched.
About Advance Mobility
Founded by Mohit Jalan, Advance Mobility is a fleet company operating in the ridesharing mobility space in our country with a deep focus on sustainable solutions.
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