PHL EV startup Mober secures PHP350M investment for expansion

By Francis Allan L. Angelo

Mober, a leading green logistics service provider in the Philippines, has received an investment of up to US$6 million (approximately PHP 350 million) from the South East Asia Clean Energy Facility II (SEACEF II), managed by Clime Capital.

The investment will expand Mober’s electric vehicle (EV) fleet to 238 units and establish a 3,000 square meter charging facility by early 2025.

Mober, which caters to high-profile clients such as IKEA, Kuehne+Nagel, Nespresso, Monde Nissin, Nestle, Maersk, and SM Appliance Center, aims to drive the low-carbon transition in the logistics sector.

The company plans to strategically place charging points across Luzon and enhance its technology with a new Battery Management System (BMS) to boost EV efficiency and longevity.

Dennis Ng, CEO of Mober, expressed the significance of the investment.

“Not all funding is created equal. Having Clime Capital as an investor adds significant credibility to Mober and solidifies our commitment to sustainability. This partnership not only enhances our reputation but also accelerates our progress toward achieving our ambitious sustainability goals,” Ng said in a statement.

Mober is also committed to inclusivity, training female drivers and assemblers to foster workforce diversity. Its EV drivers, known as Green Delivery Specialists (GDS), exemplify the company’s dedication to high standards of service and sustainability.

Joshua Kramer, Chief Investment Officer at Clime Capital, highlighted the partnership’s impac.

“We are delighted to provide much-needed capital in this first-of-a-kind EV investment in the Philippines. Clime Capital’s blended finance model enables clean-energy entrepreneurs to scale their businesses to achieve financial sustainability while also generating positive environmental impacts.”

Mason Wallick, Chief Operating Officer at Clime Capital, added, “Mober’s ambition to provide fully electric B2B delivery services is a compelling example of a first-mover business that can accelerate the low carbon transition through our strategic investment. Clime Capital’s purpose is to help these businesses accelerate their growth.”

Established in July 2015, Mober has been at the forefront of green logistics in the Philippines, offering solutions to help businesses decarbonize their delivery processes. The company is the largest operator of EV delivery in Southeast Asia and continues to innovate in sustainable logistics.

This investment comes amid a thriving startup ecosystem in the Philippines, with local startups raising $956 million in 2023, as reported by the Philippines Venture Capital Report 2024.

Mober’s growth also aligns with the Electric Vehicles and Charging Systems (EVIDA) Act, supporting the Philippines’ eco-driven policies and efforts to reduce carbon emissions.