GrowthCap Ventures, an early-stage venture capital firm previously focused on investing in Fintech, SaaS, and Deep tech sectors, has expanded its portfolio into the mobility sector with its investment in a ridesharing startup, Advance Mobility.
GrowthCap Ventures aims to back startups shaping the future of transportation. Speaking on the investment, Pratekk Agarwaal, Founder and General Partner at GrowthCap Ventures says that, “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. Advance Mobility, with its unique combination of finance, technology, and an enhanced mobility solution, is perfectly positioned to lead this transformation. We are thrilled to support in their journey.”
The investment demonstrates GrowthCap Ventures’ support for innovative startups in both fintech and mobility. Utilizing Pratekk Agarwaal’s experience and networks in financial services, payments, and insurance, the firm seeks to drive growth and innovation. Advance Mobility aims to enhance scalable fleet operations on the Uber platform while tackling challenges in the mobility sector for the benefit of all involved parties.
Also read: Mobility startup Pumpumpum secures INR 2 crore investment from Inflection Point Ventures
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