Philippine EV logistics startup bags $6m to grow fleet

Photo credit: Mober

As the Philippines seeks to reach total electric vehicle (EV) adoption of at least 40% by 2040 under an ambitious clean energy scenario, the government has approved a number of fiscal incentives to drive up demand.

Mober, a Philippine logistics firm that employs EVs in its operations, is expected to take advantage of these benefits.

The firm has bagged US$6 million worth of fresh investment in a pre-series A round. Singapore’s Clime Capital led the new funding – a mix of equity and convertible notes – through its South East Asia Clean Energy Facility II.

Mober said the new funds would help the startup increase its electric fleet from its current number of trucks and three-wheelers – now at 57 – to 238 by 2025. It also seeks to build a new 3,000 square meter charging facility in Pasay City that would be equipped with 10 to 15 direct current fast chargers. Its existing charging facility only features active current chargers.

In an interview with Tech in Asia in April, founder Dennis Ng said he plans to put up charging points in Laguna, a province south of the country’s capital Manila, to maximize the capacities of its electric trucks, which can drive up to 200 kilometers in a single charge. The newest announcement noted the firm’s plans to establish charging points north of the capital.

The company already counts multinational companies such as Ikea, Kuehne+Nagel, Nestle, and Maersk as clients of its EV-powered delivery services. Other clients include local firms like Monde Nissin and SM Retail.

Previously, Mober raised US$2.4 million in a seed round, which was led by RT Heptagon Holdings.

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