Mobec Innovations Pvt Ltd, an M-CAAS (Mobile-Charging as a Service) green company, has raised $1 million during its ongoing seed fundraising mission.

The bulk of the investment has come from Singapore-based Purple Stone Consulting which resonates with Mobec’s idea for innovative and technologically led solutions for the emerging EV (electric vehicle) sector demand.

By 2030, NITI Aayog expects to reach 70 per cent EV market penetration for all commercial vehicles, 30 per cent for private cars, 40 per cent for buses and 80 per cent for two and three-wheelers. The start-up aims to dovetail with the expanding electric mobility ecosystem, complementing the latent need to have quick access to EV charging on the go by removing EV recharge concerns by providing mobile charging solution.

Mobec offers fully-integrated EV charging solutions. The company serves customers across all categories, including individual vehicle owners (two and four-wheelers), commercial vehicles and fleet owners.

“We are driven by the idea of being part of the evolving electric vehicles sector in India by bringing in sustainable solutions and ensuring smooth mobility all through. It is has been encouraging to begin our first seed fundraise and have affirmation coming from Purple Stone Consulting. Bringing value to the larger EV ecosystem with consistent R&D, thereby benefitting the end-user, is one of our core objectives, and we look forward to having our services hitting the roads soon,” said Harry Bajaj, founder and CEO (chief executive officer) of Mobec Innovations.