Now, EV Startup Ohm Mobility Shuts Operations

Ohm Mobility, an EV financing and leasing startup, has ceased operations after failing to achieve a scalable business model. Founded in 2020, the company aimed to connect EV fleet operators, manufacturers, and battery companies with financial institutions by using IoT data to mitigate financing risks. Despite raising approximately ₹5 crore from investors like Antler India and Blume Ventures, and attempting various business pivots, including a recent focus on financial products for gig workers as "Ohm Daily," the startup could not sustain its operations, joining a growing list of startups facing challenges in the competitive EV sector.