India, July 24 -- Adding on to the string of startup shutdowns, EV financing and leasing startup Ohm Mobility is now winding down its operations. The five-year old startup failed to scale the business despite numerous pivots in its journey, its cofounder and CEO Nikhil Nair said.

"While we didn't crack the model that could scale and sustain, we got a front-row seat to what works, what doesn't, and why. We failed at a few business models, but now understand their ins and outs deeply," Nair said in a LinkedIn post.

Ohm Mobility, founded by Nair in 2020, connected EV fleet operators, manufacturers and battery companies with banks and other financial institutions to help the former secure capital. Nikhil Saigal, former executive of IT solut...