The third green logistics business in the Philippines, Mober, has announced that it has raised $6 million in funding from Clime Capital, a Singaporean fund manager that specialises in low-carbon transition.
By early 2025, Mober plans to use the additional funds to build a new 3,000 square metre charging facility and expand its fleet of electric vehicles to 238 from its current 60.
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Through its Southeast Asia Clean Energy Facility II, Clime Capital made the investment in convertible notes and equity (SEACEF II).
“This partnership not only enhances our reputation but also accelerates our progress toward achieving our ambitious sustainability goals,” Mober CEO Dennis Ng said.
Since its July 2015 start, Mober has sourced its electric vehicles directly from original equipment manufacturers.
About four months ago, Mober secured $2 million in a seed investment round headed by RT Heptagon Holdings (RTHH) with the aim of expanding its fleet of electric vehicles. This funding round is the newest one.
Mober’s EV fleet now numbers sixty thanks to the round. In order to electrify its logistics processes, it has also worked with significant businesses including Kuehne + Nagel, Nestle, SM Appliance Centre, and Maersk.
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Mober stated that it will install pocket charging stations throughout the northern and southern areas of Luzon with the additional money.
Five months after Clime Capital announced SEACEF II’s first closing at $127 million, the investment was completed.
The Global Energy Alliance for People and Planet, Impact Assets, Australian Development Investments, Allied Climate Partners, and a number of other investors pledged money to the fund.
Similar to SEACEF I, which collected $15 million in 2021, SEACEF II will make early-stage, high-risk investments in enterprises related to electrical grid development, electric mobility, energy efficiency, and renewable energy generation.
In order to help its portfolio companies expand up more quickly, SEACEF II will also provide additional funding. It plans to make investments in the Philippines, Indonesia, and Vietnam.
Based on confidential statistics, startups in the Philippines raised $30.1 million from six agreements in May, placing the nation second in Southeast Asia for cash raised.
The third climate-tech firm in the Philippines, Humble Sustainability, said last month that it has raised more money to grow and scale its activities in the nation.
The business said that Gobi Partners, a venture capital firm with an emphasis on Asia, led the most recent investment round through the Gobi-Core Philippine Fund (Gobi-Core), however it did not reveal how much money it raised.
About Mober
Mober, is the first-generation green+tech logistics provider in the Philippines.
